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NAICOM Releases 108 Insurance Brokers Operating With Invalid Licences


The National lnsurance Commission (NAICOM) has finally decided to take action against some insurance brokers who failed to renew their licences several months after the expiry date and have been operating without meeting the regulatory requirements.

In a recent publication, the commission notifies the general insuring public, Ministries, Departments and Agencies of government (MDAs) that in line with the provisions of extant insurance laws, the operating licences of 108 insurance brokers have lapsed and thus now invalid for the purpose of transacting insurance business in Nigeria.

Members of the public are therefore advised to refrain from patronizing the brokers for purposes of their insurance consumption henceforth.

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