BY NKECHI NAECHE-ESEZOBOR--Committed to assist the insurance industry improve penetration and enforcement, president Muhammadu Buhari has urged insurance companies to improve its efficiency and honour claims in good time to policy holders.
The President spoke during his conferment ceremony as the Grand Patron of the Chartered Insurance Institute of Nigeria (CIIN) by the Chairman and members of the Governing Council of the Institute, held at the State House.
‘‘As you continue in your work of contributing to national development, I want to urge you to further increase the number of Nigerians and businesses that would benefit from and be benefited by the insurance industry.
‘As you are well aware, you need to dispel misconceptions about the insurance industry presently held by a good number of Nigerians, especially as it relates to claims and need for insurance.
‘‘As I have said on many occasions and would continue to reiterate, it is my commitment to leave a sustainable growth and development legacy by the end of this administration.
‘‘Furthermore, the insurance industry as a whole must improve its efficiency and honour claims in good time,’’ he said.
The President, who commended the leadership of the Institute under Sir Muftau Oyegunle for bringing some sanity into the Nigerian Insurance Industry as well as giving more visibility to the importance of the industry in national development, counselled them to do more.
President Buhari thanked players in the insurance industry, including the CIIN, for supporting this government as well as the kind words in appreciating the progress made in various areas of development.
The President expressed appreciation on the conferment of the Fellowship award as the Grand Patron of the Institute, saying that he received it ‘‘with honour.’’
