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INSURANCE & PENSIONS

Insurers Laud Regulator’s Strategic Initiatives To Deepen Penetration

Chieftains of the nation’s insurance industry have commended the National Insurance Commission (NAICOM) for the measures taken to deepen market penetration and grow the industry. Operators believe that the enforcement of ‘no premium, no cover’ on the government agencies is a credit to the commission as government will be seen to obey the law it has made. According to practitioners, insurance industry was a strategic market contributing significantly to the long-term capital formation process and providing counterpart assurance necessary for the conduct of economic activities on a smooth basis.
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