Insurance World

No Insurance Firm Was Forced To Donate To COVID-19-Says NAICOM

BY NKECHI NAECHE-ESEZOBOR- The National Insurance Commission (NAICOM) on Wednesday debunked report, that it forced insurance companies in the country to make donations towards the fight against Coronavirus in the country.

According to statement by the commission’s Deputy Director, Corporate Communication, Mr. Rasaaq Salami Commission’s described it as not only false and misleading, but mischievous.

He explained that the commission only called on the companies to join in providing support for government at all levels to the fight against Coronavirus in the country.

“This report is not only false and misleading but mischievous. It is a deliberate attempt to embarrass the Commission.
“No insurance company is being compelled or forced to contribute to the COVID 19 fund. NAICOM only requested the support of insurance companies further to the agreement between her, the Nigeria Insurers Association (NIA) and the Nigerian Council for Registered Insurance Brokers (NCRIB) for a coordinated effort towards making a consolidated contribution to the fund as an industry”.

He urged the public to disregard the report as false and bias.

The report had stated that NAICOM in a letter to registered insurance companies compelled the companies to make donations of not less than N10 million to the fight against Coronavirus.

The report added that the firms were not given the chance to deliberate on the issue before the order was handed down to them.

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