NAICOM PLANS STRINGENT RULE FOR BROKERS LICENCE RENEWAL IN 2018

The National Insurance Commission (NAICOM) has revealed plans to make life miserable for Insurance Brokers come 2018.

The Commissioner for insurance, Alhaji Mohammed Kari said in Kaduna over the weekend at the annual media retreat for Insurance and Pension correspondents, that Insurance Brokers with 50 per cent of total income from a client would be denied renewal of their operating licenses by 2018.

The aim according to NAICOM is to ensure that Brokers do not just hook up to a single client, but expand their operations to deepen the market.

The decision when implemented says the Commissioner for Insurance would force many Brokers out of their comfort zone to engage in aggressive marketing.

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