NASS, NAICOM AGREE ON SPEEDY AMENDMENT OF INSURANCE LAWS TO ENHANCE SECTOR CONTRIBUTION TO ECONOMY

Written by on February 26, 2020

The House of Representative Committee on Insurance and Actuarial Matters and the National Insurance Commission have agreed on the need to speed up the process of amendment of existing insurance laws to enable the insurance sector make significant contribution to the economy.

The parliamentarians, assessing the request of the Commission with respect to the laws governing operations of insurance business in Nigeria, noted that the laws are no doubt obsolete and need to be amended urgently to enable the industry take its rightful place in the nation’s financial services sector.


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