NCRIB tasks insurers on timely payment of ILAN fees
President, Nigerian Council of Registered Insurance Brokers, NCRIB, Shola Tinubu, has called on insurers to ensure timely settlement of Loss Adjusters fees to enable them perform their duties professionally.
Shola Tinubu who made the call at the investiture ceremony organised by the Institute of Loss Adjusters of Nigeria, ILAN, in honour of its 11th President, Alhaji Shamsideen Olufemi Hasan in Lagos identified the importance place of loss adjusting in insurance industry, describing them as key to claim payment.
He said despite the significance role played by loss adjusters in the area of investigating claims to ascertain the authenticity or otherwise of such claims before payment is made, said they are not adequately supported.
According to him, “The challenge in insurance industry is claims. For the industry to make super profit, we must not forget to settle claims and Adjusters are key to claim.
“Adjusters have not been given adequate support in the industry. Their situation is still terrible and it is time this issue is addressed. When adjusters carry out assignment for insurers, their professional fees should be paid on time to enable them do their work well.” NCRIB boss advised.
Speaking at the event, representative of the Commissioner for Insurance, National Insurance Commission (NAICOM), Alhaji Mohammed Kari, Mr Amokade Oluekan, called on the new President of ILAN, Mr. Olufemi Hassan to operate an open door policy in order to raise the standard of the profession.
He said NAICOM will do its best in support ILAN to ensure the success of the new president.
In his acceptance speech, Alhaji Hassan said part of his agenda is to overhaul the secretariat by engaging the services of a Registrar as provided for in the constitution whilst existing part-time officers would gradually be eased off to take up other roles at committee levels in order to ensure optimal accomplishment of his presidency’s set goals.
“Adherence to issues bordering on good corporate governance, codes of conduct as relate to the business of insurance and adjusting should be our watchword; whilst I will enjoin our customers – insurance companies, brokers and the insuring public to play the game by the rules one of which is the strict observance of utmost good faith in all our dealings,; for in this lies our common health and wealth as insurance practitioner.
“The importance and capabilities of insurance claims adjusters in Nigeria are still relatively unknown hence Adjusters’ contributions to the economic and social wellbeing of the citizens and enterprises (including the insurance industry) in Nigeria is rarely noticed, oftentimes misunderstood and unappreciated. To improve on this, arrangement is in top gear to expose the adjusters, first by joining hands with the insurance industry through the window of opportunity soon to be unveiled by the insurance industry and the regulators – National Insurance Commission (NAICOM) aimed at improving the image of the industry through publicity and awareness creation.,” he said.
Hassan said for all these to happen he would require the support of all members, both corporate and individual just as he expressed optimism on greater roles and economic wellness for adjusters within and outside the shores of Nigeria.
