OPERATORS have lauded the appointment of Commissioner for Insurance, Mohammed Kari by President Muhammadu Buhari.
The operators’ expectations are high. They are hopeful that the new commissioner will provide regulations that will further drive the growth of the insurance industry.
Buhari appointed Kari on July 31, this year on the same day former Commissioner, Fola Daniel’s tenure in office ended.
Daniel held the position for eight years. Director-General, Chartered Insurance Institute of Nigeria ,CIIN, Kola Ahmed, thanked the president for his quick response in appointing someone as the commissioner.
For him, it shows that President Buhari’s administration has focused on the industry. He described Kari’s appointment as the right peg in the round hole and in the right direction.
He said: “I also see his appointment as a vote of confidence by the government on NAICOM programs. This is why they chose somebody from the Commission.
“He does not have to reinvent the wheel because he has been part of the existing policies. It is good for the industry too because we don’t have to start understanding the commission all over again. We will cooperate and support him.”
The CIIN DG further noted that Kari was a strict person and that was the kind of person the industry needed. He said that while the former commissioner on his part enforced the Insurance Act 2003 on operators, he believed the new commissioner would continue with a lot of force.
“He is somebody that will not bend the rules for anybody. He knows the pranks that any underwriter, broker, loss adjuster, agent and any other stakeholder in the industry may want to play. Everybody will just have to do the right thing,” he said.
Chairman, Nigeria Insurers Association ,NIA, Godwin Wiggle said the association was willing to work with the new commissioner to make the industry better.
He said they expect more regulatory reforms to place the industry at par with global best practice. He said the commissioner was a critical and focused person whom they believe would make an impact.

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