Underwriters are owing us about N400m – ILAN boss
President of ILAN, Alhaji Femi Hassan
Insurance underwriters in Nigeria are owing members of the Institute of Loss Adjusters of Nigeria (ILAN) about N400 million as unpaid professional fees for services rendered to them by ILAN members.
The President of the Institute, Femi Hassan, said this yesterday while speaking with journalists shortly after the Institute’s 36th Annual General Meeting (AGM) which took place at the Institute’s Secretariat in Lagos.
He said the institute has written severally to the umbrella association of insurance underwriters, the Nigerian Insurers Association (NIA) making passionate appeals to them to take this matter up with its members but yet nothing has been done.
Hassan said in his capacity as the President of ILAN he has personally met and discussed the issue with the leadership of NIA and their response has always been that they are engaging their members on the issue.
Apart from the professional fees which ILAN said the underwriters are owing them, ILAN members also complained that underwriters have not been issuing receipt to them on withholding tax deducted from their (Adjusters’) fees and called on underwriters to always ensure that receipts are issued to them whenever such deduction is made.
ILAN President expressed worrisome over the attitude of some staff of insurance firms which he said sabotaged efforts of ILAN members by delaying their letters, without passing the letters to appropriate quarters for action.
He complained that underwriters have made members of Loss Adjusting profession in Nigeria the most impoverished profession in the country because of their refusal to pay ILAN’s professional fees as at when due thereby exposing them to undue sufferings and ridicules.
Hassan noted that adjusting business is shrinking, adding that insurers are forever looking for ways to by-pass them in their desire to reduce cost.
He said the issue of debt has been a reoccurring problem between ILAN members and the underwriters even as he said the debt profile has continued to grow by the day.
ILAN boss said the Institute has done everything within its powers to make underwriters pay their fees promptly but the issue has continued to linger.
He appealed to the present leadership of NIA with Tobe Smart as Chairman to come to their aid.
