By Nike Popoola

Tuesday, 9 Nov 2010

The President, Nigerian Council of Registered Insurance Brokers, Dr. Teslim Sanusi, has appealed to the Nigerian Airspace Management Authority to patronise local insurance brokers and ensure regular payment of its premium.

According to a statement by the council on Monday, he said this during a recent brokers‘ programme in Lagos.

Sanusi said that enhanced patronage of the local industry would help to boost the industry‘s capacity, thereby, making it a better contributor to the nation‘s economy.

Sanusi said, ”NCRIB appeals to NAMA for its continued patronage of insurance brokers as well as regular payment of premium and brokerage commission on its insurance.”

He said that the council reckoned that, given the strategic nature of the institution, the insurance of NAMA‘s asset should be given premium consideration.

The NCRIB boss observed that there had been an improved relationship between the council and the underwriters, and that the insurance industry had become more harmonised to take advantage of the market.

The insurance broker also noted that there were recent petitions and allegations by some underwriters and insurance brokers to the National Assembly, alleging malpractices in the group life insurance policy for employees of the Federal Government.

He pointed out that the NCRIB had a well-established mechanism for addressing such issues emanating from members.

He regretted that the misgivings were not brought to the attention of the governing council by the members and that the petitioners did not raise the issue with the governing board of the council.

Sanusi said, ”As much as such misgivings could not be ruled out in business relations, the circumvention of due process is capable of projecting the council in bad light.”

He however expressed the appreciation of the council to the Federal Government for supporting the insurance industry through the group life scheme.

The NCRIB boss said that insurance brokers will continue to reciprocate the gesture by rendering improved services to the government and all other clients.

Source: Punch