The National Insurance Commission (NAICOM) has stated that insurance companies are now required to cover the costs of every case it resolves.

Head of its Communication and Stakeholders Management Sub-committee, Mrs Ebelechukwu Nwachukwu, said the decision was made at the Insurers’ Committee Meeting held yesterday where it was agreed that the move aimed to sanitise the insurance industry, and help reduce complaints from policyholders.

On regulatory compliance, the NAICOM Commissioner encouraged practitioners to meet requirements and ensure credibility in filing financial statements and returns.

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