CAPTIONS;

L- : Director General, Nigerian Insurers Association, (NIA), Mrs. Yetunde Ilori; President, Nigerian Council of Registered Insurance Brokers, (NCRIB), Mr. Rotimi Edu,mni; Outgoing Chairman, NIA, Mr. Ganiu Musa; Incoming Chairman, NIA, Mr. Segun Omoshin; Executive Secretary/CEO, NCRIB, Mr. Tope Adaramola and Hon. Treasurer, NCRIB, Mr. Ayo Akande during a courtesy visit of NCRIB delegation to NIA

L – President, Nigerian Council of Registered Insurance Brokers, Mr. Rotimi Edu, mni presenting the miniature of NCRIB 60th Anniversary Mascot to the outgoing Chairman, Nigerian Insurers Association, Mr. Ganiu Musa during a courtesy visit of NCRIB delegations to NIA, with them is the Executive Secretary/CEO, NCRIB, Mr. Tope Adaramola

By Favour Nnabugwu

The Nigerian Insurers Association, NIA and the Nigerian Council of Registered Insurance Brokers, NCRIB have tighten the bond between them to grow the insurance industry by accelerating its contribution to Nigeria Gross Domestic Product

This intention was expressed at the meeting of heads of the NCRIB led by its President, Mr. Rotimi Edu, mni when the Council’s delegation visited the NIA in Lagos in his speech, Mr. Rotimi Edu noted that the industry’s crave for cohesion and professionalism for effective services rendition to the public could only be achieved if Insurance Brokers who are members of the NCRIB accelerate their collaboration with Underwriters under the aegis of the NIA “Revitalisation of the various Joint and Technical Committees of the industry is being put at the front burner to facilitate effective sharing of information between our two unique professional divides in the industry”, Edu noted

The NCRIB President averred that the insurance industry operators should always see themselves as cooperators rather than competitors in order to project an acceptable front before the insuring public.

Earlier, the outgoing Chairman of the Nigerian Insurers Association, Mr. Ganiu Musa pledged the readiness of the NIA to cooperate with Insurance Brokers body to reenergize the Joint Technical Committee, noting that no effort should be spared in exchanging information with a view to making the industry vibrant and contribute to the national economy.

By Favour Nnabugwu

Sovereign Trust Insurance Plc has vowed to continuously create exceptional value for shareholders.

Managing Director/Chief Executive Officer of the Company, Mr. Olaotan Soyinka made this know at the inauguration of the new executive members of the National Association of Insurance and Pension Correspondents, NAIPCO, in Lagos, sponsored by Sovereign Trust Insurance Plc.

Soyinka noted that Sovereign Trust, is committed to innovative products and services that will improve the life of customers even as it has created an enhanced Third Party Motor insurance policy for the insuring public.

Soyinka who was represented by Deputy General Manager, Sales & Corporate Communications, Mr. Segun Bankole said: “Our mission is to enhance the everyday life of our customers through innovative insurance and financial services while creating exceptional value for our shareholders.

“As an organisation, we have been driven by our vision and mission and that attest to the fact that some of the profitable oil and gas businesses in the country, we can beat our chest that we are one of the proud underwriters in that regard.”

On the enhanced Third Party Motor insurance, Soyinka said: In terms of innovation, we have the product called the Enhanced Third Party Motor Insurance. We taught of the usual third party whereby when a claim occurs; it is only the third party that gets the benefit of having his or her vehicle repaired.

But with our enhanced third party, which is just N7,500 per annum, you have the third party being insured in case of any damage to the tune of N1 million and the insured himself or herself has that limit of liability up to the tune of N500 thousand.”

According to Soyinka, the reason for the enhanced third party motor cover is to protect their customers.

“What was the reason behind the enhanced third party motor cover? You will agree with me that economic wise, the country is not smiling. So we lost people who would rather not continue with their insurance due to the economic situation of the country.

So we deemed it fit that instead of losing a particular client, we should still be able to keep them in our dragnet. So customers will still have the feel that they have insurance. Although it is not comprehensive but at least the customer is still covered.”

Soyinka stressed that Sovereign Trust will continue to support NAIPCO, adding “You will recall that one of our journalists recently had an accident. Incidentally, he has a third party policy with us, but the person that bashed his car has a third party with another company.

We have been trying to see how we can help him get his claims sorted out as fast as possible. Extending that hand of fellowship is so critical to the success of our organisation. We do not in any way underestimate what you represent in the Nigerian society as journalists. So we are solidly behind you and will continue to support you as an association.”

Meanwhile, the following officers were inaugurated to pilot the affairs of the Association for the next two years: Nkechi Naeche-Esezobor, Publisher/Editor-in-Chief, Business Today (Chairman); Ngozi Onyeakusi, Publisher/Editor-in-Chief, Super News Online (Vice Chairman); Rosemary Iwunze, Insurance/Pension Editor, Vanguard Newspaper (General Secretary).

Others are Edet Udoh, Publisher/Editor-in-Chief, the Revealer Online (Assistant General Secretary); Adejoke Adeyemi, Insurance and Pension Editor, News Agency of Nigeria (NAN) (Treasurer); Matthew Otoijagha, Publisher/Editor-in-Chief, Business Wrap Online (Financial Secretary); and Amaka Obiefuna, Publisher/Editor-in-Chief, News Corner Online (Public Relations Officer).