NAICOM KICK-STARTS PLANS TO ABOLISH BROKERS ANNUAL LICENCE RENEWAL

It seems like the pleas of the Nigerian Council of Registered Insurance Brokers (NCRIB) has finally fallen on the ears of the Nigerian Insurance commission (NAICOM).

For so long, Insurance Brokers have been pleading to the regulator on the need to abolish practise of Brokers running to Abuja to renew their operating licences every year. A practise brokers say distract them from top quality services to their clients as intermediaries.

NAICOM according to the deputy Commissioner Technical, Mr. Sunday Thomas at the just concluded national insurance conference Abuja said that the commission has started reviewing brokers licence renewal processes to abolish the current practise of brokers running to Abuja every year. He however cautioned that brokers might not get life licence like insurance Underwriters as has been clamoured for by big brokers.

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