Business Trends & Strategies, Government Policies & Politics

NAICOM Releases Guidelines For Oil & Gas Insurance Business

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The National Commission has the primary responsibility for regulating in Nigeria and is collaborating with the Nigerian Content Development and Monitoring Board (NCDMB) to ensure compliance with relevant provisions of the Nigeria Industry Content Development Act 2010 and other laws relating to .

This Guideline is issued pursuant to the provisions of Section 50 of the Nigeria Industry Content Development Act 2010, the Act 2003 and the National Commission Act 1997, for the purpose of establishing uniform set of rules, regulations and standards for contracts of insurance within the Oil & Gas industry in Nigeria.
The Guideline is intended to facilitate compliance with the Nigeria Oil & Gas Industry Content Development Act 2010 as well as ensure value-added service(s) within the context of the Insurance Act 2003 and the National Insurance Commission Act 1997.
Consequently, the rules contained shall guide the operation of Oil and Gas insurance in Nigeria.  Click here to download

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