Buhari Tells Insurance Companies To Stop Delaying Claims
On Thursday in Abuja, President Muhammadu Buhari challenged insurance companies in Nigeria to honor claims in a timely manner.
Buhari gave a speech at the State House after the Governing Council designated him Grand Patron of the Chartered Insurance Institute of Nigeria (CIIN).
He praised the CIIN, which is run by Sir Muftau Oyegunle, for bringing some sanity to the insurance business and urged it to go further.
Buhari urged the institute to increase the number of Nigerians and businesses who benefit from insurance plans.
“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.
‘‘The insurance industry as a whole must improve its efficiency and honour claims in good time,’’ he said.
The Nigerian leader thanked the CIIN and insurance players for supporting his government and appreciating progress made in various sectors.
The President promised to continually provide the necessary support to the industry to maximise its contribution to socio-economic growth.
Buhari assured that once the National Assembly completes the review of the Consolidated Insurance Bill 2020, he would “speedily subject it to the necessary executive checks and sign it into law”.
