President Muhammadu Buhari, on Thursday in Abuja, told
insurance companies in Nigeria to honour claims in good time.
Buhari spoke at the State House when he was named Grand
Patron of the Chartered Insurance Institute of Nigeria (CIIN) by the Governing
Council.
He hailed the CIIN under Sir Muftau Oyegunle for bringing
some sanity into the insurance industry and charged the body to do more.
Buhari urged the institute to ensure that more Nigerians and
businesses benefit from the advantages of insurance policies.
“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”.
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