NAICOM Takes Compulsory Insurance Campaign To Nasarawa 

Ahead of its National Insurance conference which comes up in October, the National Insurance Commission (NAICOM) has taken the campaign for compulsory insurance to Nasarawa State.   A statement from the Commission said the Commissioner for Insurance, Mr Olorundare Sunday Thomas led a delegation from NAICOM on a courtesy visit to the Executive Governor of Nasarawa State, Engr. Abdullahi A. Sule to intimate him and members of his executive council on the benefits of insurances. Some of the compulsory insurances the commission is driving includes Public Buildings and Buildings Under Construction, 3rd Party Motor Insurances amongst others. Narrating a personal experience while he was still in the private sector of how the sugar refinery where he worked as the Managing Director was razed by fire but thanks to insurance, a newer and better one was built from the claims paid by the insurance company. The Commission has intensified its drive towards Insurance penetration with some novel products built to captivate the general public.

AIICO Insurance denies alleged breach of customer’s contract

AIICO Insurance PLC has denied media reports that it was dragged to court by one of its lawyer clients over an alleged breach of contract. Mr Segun Olalandu, Head Strategic Marketing, and Communications Department, AIICO, said this in a statement in Lagos. Olalandu described the alleged court story’s headline as sensational and misleading. “Our attention was drawn to a widely circulating story on some online media with the headline: ’Lagos lawyer drags AIICO insurance company to court over breach of contract’, which we find to be sensational and misleading. “It is important to clarify that the headline implies that AIICO Insurance breached the contract with its client. ”Whereas the reality is that the client failed to fulfill his contractual obligations to the latter, which failure actually undermines the purport of this insurance contract,” he said. According to him, AIICO as a responsible corporate entity, choose not to engage in any commentary regarding the ongoing legal case to enable the legal proceedings to follow its due course. He noted that the insurer believed firmly in the country’s judicial system and its ability to determine the truth and dispense of the matter accordingly. Olalandu stated that the insurance firm remained steadfast in upholding its commitment to transparency, integrity, and the principles of justice. “Consequently, we refrain from making any public statements until the conclusion of the current judicial process, whereupon we will address the matter appropriately,” he said.