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Insurers pay claims promptly – CIIN

By on November 26, 2015

The President, Chartered Insurance Institute of Nigeria, Isioma Chukwuma, has urged members of the public to change their negative perception about the insurance industry in the country, because it is now paying claims to the insured promptly whenever the need arises.

Chukwuma said this when she led a delegation of the institute to the headquarters of Punch Nigeria Limited in Magboro, Ogun State on Tuesday.

The delegation comprised the Director-General, CIIN, Mr. Kola Ahmed; Rector, College for Insurance and Financial Management Studies, Dr. Yeside Oyetayo; Corporate Affairs, CIIN, Mr. Seun Banwo; and member, CIFMS, Mrs. Aramide Bakare

“I can assure you that the insurance sector is doing a lot to erase the negative perception because we pay claims as and when due. The National Insurance Commission has gone a step further to ensure that there is sanity in terms of claims payment and has given us a time frame within which to settle all claims as long as the documentation is completed,” Chukwuma said.

She noted that many companies were paying claims, but were not publicising their activities for the public to know.

While speaking on the focus of her presidency, she said her executive council would consolidate on the gains of the industry for national economic growth and build on the successes of her predecessors.