Rahmotullah LawalThe National Insurance Commission has directed all insurance companies to clear outstanding claims by December 31, 2024.
She urged companies to discuss recapitalisation with their boards to prepare for future capital requirements. Regarding Nigeria’s data protection, she said Omosehin instructed insurers to focus on industry regulations and the legal framework under the Insurance Bill 2024. “He spoke about focusing on compliance issues, under the Prudential Guidelines released by NAICOM to the insurers and put an end to corporate Governance abuses, recognised within the industry,” Nwachukwu said.“The commissioner discussed the National Credit Guarantee Scheme signed by President Bola Tinubu.
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