Key Points
- NIA inaugurates technical committees on agricultural insurance and reinsurance.
- The committees increase the association’s technical committees to 16.
- NIA says the move will strengthen technical capacity and industry standards.
Main Story
The Nigerian Insurers Association (NIA) has inaugurated technical committees on agricultural insurance and reinsurance as part of efforts to strengthen professional expertise and promote best practices in the industry.
The association disclosed this in a statement on Thursday, saying the inauguration brought its number of technical committees to 16.
NIA Director-General, Mrs Bola Odukale, said the committees were established in response to calls from members of the association’s Governing Council and other stakeholders for dedicated platforms to address emerging issues across key insurance segments.
She said the Agricultural Insurance Technical Committee would promote best practices and improve members’ capacity in underwriting and claims management.
According to Odukale, the Reinsurance Technical Committee would similarly address issues and practices in reinsurance while strengthening members’ technical capacity in underwriting and claims management.
She urged members of both committees to contribute to improving technical standards and supporting sustainable development of the insurance industry.
The Issues
The committees are expected to provide specialised platforms for addressing technical and emerging issues in agricultural insurance and reinsurance.
Before the elections, members were briefed on their responsibilities and expected contributions to the growth of the industry.
Leonard Okoroafor of AIICO Insurance Plc was elected Chairman of the Agricultural Insurance Technical Committee, with Baron Omiji of Guinea Insurance Plc as Deputy Chairman.
Adebayo Olukolajo of Leadway Assurance emerged Secretary, while Ndidi Olagunju of Industrial and General Insurance became Assistant Secretary.
For the Reinsurance Technical Committee, Helen Osadunkwu of Cornerstone Insurance Plc was elected Chairman, while Ochuko Efenure of Zenith Insurance Plc became Deputy Chairman.
Uwem Offong of NSIA Insurance was elected Secretary, while Otoikhila Godskingdom of Emple Insurance emerged Assistant Secretary.
What’s Being Said
“The committees are essential platforms for advancing Nigeria’s insurance industry,” Odukale said.
Odukale urged members to contribute meaningfully towards strengthening technical standards and advancing sustainable industry development.
What’s Next
The NIA said it would continue to strengthen technical capacity, promote collaboration and encourage professional standards across the insurance industry.
The association said the new committees would support sustainable growth and development within the sector.
Bottom Line
The NIA has expanded its technical committee structure to 16 with dedicated bodies for agricultural insurance and reinsurance, giving the two segments specialised platforms for capacity development and industry standards.
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