30 results
- 22 Nov 2024
Data Commission, NAICOM Partner to Safeguard Data in Insurance Industry
Nigerian Data Protection Commission (NDPC) and National Insurance Commission (NAICOM) have signed a Memorandum of Understanding (MoU) to protect data pilfering in the insurance industry. The…
- 27 Feb 2025
NAICOM Tasks Insurance Companies on Local Cyber Insurance Products
National Insurance Commission (NAICOM) has urged local insurance companies to prioritise the development and rollout of cyber insurance products to address growing digital risks. The call was made by…
- 27 Feb 2025
NAICOM Urges Nigerian Insurers to Develop Cyber Insurance Products
National Insurance Commission (NAICOM) has urged Nigerian insurance companies to develop and introduce cyber insurance products. This is in response to the escalating digital risks accompanying…
- 31 Dec 2020
NAICOM Suspends Insurance Industry Recapitalisation
The National Insurance Commission (NAICOM) has suspended the ongoing Insurance industry’s recapitalisation following a court order on the initiative. NAICOM’s spokesman Rasaaq Salami, reacting to the…
- 1 Jun 2021
NAICOM says Govt Assets Inadequately Insured
The National Insurance Commission, NAICOM, has said that most assets of the Federal Government are never adequately and appropriately insured. Mr. Sunday Thomas, Commissioner for Insurance, stated…
- 9 Jul 2017
NAICOM to Review Insurers’ Performance
The National Insurance Commission (NAICOM) plans to assess the implementation of the regulatory priorities for the industry in 2017, and strategise on how to improve the local retention of insurance…
- 19 Feb 2025
NAICOM, UNDP, Others to Promote Insurance Literacy, Consumer Protection
The National Insurance Commission (NAICOM), and the United Nations Development Programme (UNDP) recently took their Insurance Literacy and Consumer Protection Campaign to Wuse Market, Abuja. NAICOM…
- 24 Nov 2025
NAICOM Mandates Insurance Customers to Link NIN, CAC Documents By April 2026
The National Insurance Commission, NAICOM, has directed all individual insurance customers to link their National Identification Number, NIN, to their insurance policies by April 30, 2026. The…
- 20 Jul 2026
No Going Back on July 31 Deadline for Insurance Firms' Recapitalisation - NAICOM
National Insurance Commission (NAICOM) has declared that it has no plans to extend the 31 July 2026, deadline for the ongoing insurance industry recapitalisation exercise, asserting that the date is…
- 28 Dec 2016
NAICOM Threatens Insurers over Local Content Policy
The National Insurance Commission (NAICOM) will henceforth punish insurers who act against the local content policy. The regulator has discovered that some operators either fail or refuse to consider…
- 4 Aug 2022
NAICOM to Enforce Compulsory Insurance
The National Insurance Commission (NAICOM) is set to commence the enforcement of compulsory insurance in the country. The Board of Directors of NAICOM led by its Chairman, Dr Abubakar Sani, was at…
- 4 Jun 2020
NAICOM Extends Insurance Firms Recapitalization
The National Insurance Commission (NAICOM) has split the industry recapitalization process into two, extending the recapitalization deadline to September, 2021. The segmentation was contained in a…
- 15 Nov 2023
NAICOM Warns Insurers Against Dealing with Unlicensed Agents, Brokers
National Insurance Commission (NAICOM) has issued a stern warning to insurance operators against dealing with unlicensed agents and brokers if the sector must progress and earn the trust of the…
- 10 Jun 2022
NAICOM Urges PILA to Deepen Insurance Penetration
The National Insurance Commission (NAICOM) has urged the Professional Insurance Ladies Association (PILA) to use their position influence acceptance of insurance for better penetration and growth of…
- 30 Oct 2024
NAICOM Sacks African Alliance Insurance Board
The National Insurance Commission, (NAICOM), on Wednesday, sacked the board of African Alliance Insurance Plc with effect from October 30, 2024. The Commissioner for Insurance, Mr. Segun Omosehin,…
- 23 Apr 2014
Terrorism Financing: NAICOM Beams Searchlight on KYCG of Insurers
National Insurance Commission (NAICOM) has started sending inspectors to insurance firms to ascertain whether they have been complying with the provisions of the law regarding money laundering and…
- 6 Feb 2015
NAICOM to Consolidate on Insurance Reforms
The National Insurance Commission (NAICOM) said yesterday that in 2015 it would endeavour to consolidate on reforms initiated in the past seven years. Mr. Fola Daniel, commissioner For Insurance,…
- 28 Jun 2022
NAICOM Cancels Niger Insurance, Standard Alliance’s Operational Licences
National Insurance Commission (NAICOM) has cancelled the certificates of registration of Niger Insurance Plc and Standard Alliance Insurance Plc. This was disclosed in a statement issued by ‘Rasaaq…
- 31 Aug 2018
NAICOM Extends Insurance Recapitalization Deadline to Oct. 1
The National Insurance Commission (NAICOM) on Friday extended the insurance companies’ Tier-based recapitalization commencement date to Oct. 1, as against January 1, 2019, it earlier announced. Mr…
- 6 Jun 2023
NITDA Partners with NAICOM to Institutionalise Cyber Insurance
National Information Technology Development Agency (NITDA) is exploring partnership and collaboration with the National Insurance Commission (NAICOM) on how to institutionalise Cyber Security…
- 6 Oct 2021
NAICOM set to Enforce Insurance of Buildings above Two Floors
The National Insurance Commission (NAICOM) is set to enforce the insurance of buildings above two floors, in the country. Alhaji Sabiu Abubakar, Deputy Commissioner for Insurance, Technical disclosed…
- 19 Aug 2019
NAICOM Fights Dirty Money in Insurance Capitalisation
National Insurance Commission (NAICOM) has put measures in place to prevent funds from unwholesome sources from being invested in the industry during this period of recapitalisation of insurance…
- 30 Sept 2024
NAICOM Highlight Strategies to Achieve Insurance Penetration Across Nigeria
The National Insurance Commission (NAICOM), has highlighted five strategies it will adopt to achieve insurance accessibility and penetration across the country. The commission said these strategies…
- 3 Oct 2022
Elumelu Urge NAICOM to Increase Insurance Brokers’ Capital to N50m
The National Insurance Commission (NAICOM), has been urged to upgrade the minimum capital base of insurance booking firms from the current N5 million to N50 million. The insurance brokers on their…
- 21 Apr 2021
NAICOM Revoke UNIC Insurance’s Operational Licence
The National Insurance Commission (NAICOM) on Wednesday announced the cancellation of the operational licence issued to UNIC Insurance Plc. The operational licence – RIC 043, was revoked with effect…
- 2 Apr 2020
NAICOM Urges Insurance Firms to Maintain Sanctity of Policy Contracts During Restrictions
The National Insurance Commission, NAICOM, has directed insurance firms in the country to maintain sanctity of insurance contracts entered into with clients. In a circular titled RE: EFFECT OF…
- 20 Aug 2018
Linkage Assurance gets NAICOM Approval to Underwrite Agric Insurance
Linkage Assurance Plc has secured the approval of the National Insurance Commission (NAICOM) to underwrite agric insurance. NAICOM The approval will enable Linkage support the farmers and service…
- 15 Mar 2010
Enforce Laws on Compulsory Insurance - NAICOM Urged
Determined to ensure that the compulsory insurances under the Insurance Act 2003 are fully implemented, the National Insurance Commission (NAICOM), has reiterated its avowed commitment to enforcing…
- 9 Mar 2021
NAICOM Threatens Insurance Firms with Bulky Unsettled Claims with Sanctions
The National Insurance Commission (NAICOM) has commenced profiling of Insurance firms with heavy unsettled claims, as the regulator considers invoking regulatory sanctions against them. The…
- 23 Dec 2018
Insurance Brokers Laud NAICOM over SIP Cancellation
The Nigerian Council of Registered Insurance Brokers (NCRIB) has applauded the National Insurance Commission (NAICOM) over the cancellation of State Insurance Producer (SIP), a new distributive…