By Favour Nnabugwu

National Insurance Commission, NAICOM has released the operational guidelines to serve as a working document to register, supervise and monitor web aggregators.

The Commission in the guideline said that insurance intermediary who maintain a website for providing information on products of different Insurers.

In exercise of the powers conferred by the National Insurance Commission Act 1997, the Commission hereby issues: ‘Insurance Web Aggregators Operational Guidelines – 2022’.

The following introductory notes to the guidelines indicate that: This Guidelines comes into effect on the date of release to the insurance industry and the public;

This Guidelines shall apply to all Web Aggregators and Insurers respectively carrying on insurance business in Nigeria;

This Guidelines shall be read in conjunction with other relevant Legislation, Guidelines and Circulars as determined to be applicable to the newly inclusive distribution channels approved by the Commission; and

It is the responsibility of Web Aggregators to obtain any clarification required on the applicability of this Guidelines, and any other Regulations from the Commission.