The Nigerian Insurers Association (NIA), the umbrella body for insurance and reinsurance companies in Nigeria, is urging its 16 technical committees to contribute more actively to policy and market conduct discussions. Their recommendations inform decisions by the association’s Governing Council.
NIA Chairman Ebelechukwu Nwachukwu made the appeal at a meeting with committee chairmen and secretaries on Tuesday, Oct. 27. She urged insurers to take a proactive role in discussions about policies and developments affecting the economy and its sectors, and to respond to emerging risks and regulatory challenges with practical recommendations based on their expertise.
The committees advise the association. NIA said their recommendations help the Governing Council decide how to address market conduct guidelines, regulatory policies and other industry matters. The committees’ described role is within the association’s decision-making process.
Their subject areas include claims management, accounting, legal affairs and information technology, along with life, marine, motor and energy insurance. Other areas include special risks, audit and compliance, agricultural insurance and reinsurance. NIA said it inaugurated the Agricultural Insurance Technical Committee and the Reinsurance Technical Committee, bringing the total number of committees to 16.
Director-General Bola Odukale said the association’s secretariat would strengthen its working relationships with committee leaders and review their technical recommendations promptly. NIA did not name a specific policy proposal discussed at the meeting or set a timetable for the committees’ work.
