By Favour Nnabugwu
The National Insurance Commission has commerce approval for insurance certificate /operating license twice in a year.
Naicom stated that the registration processes would be done twice March to May and August – October for issuance of licence/operating certificate.
“The first cycle will commence from March and ends in May with issuance of licence/operating certificate while the second cycle will commence from August and ends in October with the issuance of licence/operating certificate”
Also, the Commission said any insurance, broking and loss adjust organisations that seek that approval from Naicom must ensure complete filing of their documentationl regulatory body hence there would be delay due incomplete documentation for desired approval from the Naicom.
Insurance regulatory body is presently bombarded with requests for new insurance brokers and loss adjusters.
“Only complete documentation will be received and processed by the Commission.
Any request received but not concluded before the end of any cycle due to late submission or any other of the applicant shall be carried over to the next cycle,” it posited.