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EXCLUSIVE: NAICOM resolves 218 complaints worth over N5bn in 2016



NAICOM, CBN meet to discuss bancassurance

In line with its promise to protect insured, the Customers Complaint Bureau of National Insurance Commission (NAICOM) in 2016 resolved 218 complaints resulting in the settlement of claims worth N5,475,174,716.63 only to aggrieved policyholders by insurance firms.

Rasaaq Salami, Head of Corporate Affairs, NAICOM, in an exclusive message to NEWSVERGE said that the Commission received a total of 413 complaints from aggrieved policyholders against insurance entities in the year under review.

In resolving the disputes, Salami, mentioned that the Commission held adjudication meetings and had direct contacts with all parties involved.

In his word, “The Commission is working on and at the verge of resolving a total of 650 ongoing cases from 2014 which are all at different stages of conclusion.

“NAICOM will continue to strive hard to ensure protection of policyholders, beneficiaries and third parties of insurance contracts.”

Meanwhile, reports gathered revealed that not all resolutions were in favour of the complainants but the underwritters in some cases were right in repudiating the claims.

A case was withdrawn because it was found to be fraudulent, 5 cases were referred to Pension Transitional Arrangement Directorate (PTAD) over non-payment of pension, and another one was transferred to the National Pension Commission (PenCom).

Cases that are found to be subjudice were not treated but left to the courts to do the needful.

Similarly, cases not resolved are still being looked at by the Complaint Bureau Unit in the Commission.

The National Insurance Commission (NAICOM) however urged aggrieved members of the public to send their insurance complaints to it email: [email protected]

Kayode Adelowokan

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.The Verge Communications (NEWSVERGE) is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.