‘NIA on mission to rebuild industry reputation’

The Nigeria Insurers Association (NIA) has urged stakeholders to work together to redeem the industry’s poor image.

The operators said such cooperation would enable them to maximise the untapped potential in the economy and raise confidence level.

This was disclosed during the 24th chairman investiture of the association in Lagos.

The NIA Chairman, Ganiyu Musa, unveiled a nine-point agenda, with the hope of taking the insurance industry to lofty heights.

According to him, the association is determined to work with relevant stakeholders to ensure the passage of the Consolidated Insurance Bill for the sector’s development.

He said, the organisation would work with stakeholders to address restrictive laws on insurance practice; work with partners such as the Financial Inclusion Secretariat to ensure greater insurance awareness to achieve seamless migration to IFRS 17.

Musa maintained that the administration would look inwards to take advantage of the untapped potential demand for insurance in Nigeria, stressing that this would increase the insurance business.