NAICOM says new guidelines aims to drive innovation in insurance sector
Industry regulator, the National Insurance Commission (NAICOM) has explained that the three new guidelines it issued for operators are part of its strategic objective to drive innovation of products and services, ensure operators are professional in the conduct of their businesses in line with best practices.
The commission in a statement issued by its Head, Corporate Communication and Market Development, Mr. Razaaq Salami, also added that the guidelines were issued as part of its strategic objective to drive innovation of products and services, as well as, ensure operators are professional in the conduct of their businesses in line with best practices.
It would be recalled that he commission recently issued three operational guidelines to regulate the industry.
The guidelines include: Insurance Regulatory Sandbox Operational Guidelines, Market Conduct Guidelines for Takaful and Retakaful Insurance Operators and Enterprise Risk Management Framework for Takaful and Retakaful Operators in Nigeria.
“The Commission expects all Operators to ensure compliance with the new guidelines for the benefit all stakeholders.”
