NAICOM reaffirms commitment to disinfect the industry

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The National Insurance Commission (NAICOM) has raised concerns about the troubling issues of policyholder default.

The insurance regulator had in June this year canceled the licenses of Niger Insurance Plc and Standard Alliance Insurance Plc for their inability to carry out their primary responsibility for paying claims and other irregularities.

The Deputy Commissioner of Insurance, Alhaji Sabiu Abubakar, recently stated that there is a possibility that they will cancel the licenses of some companies that mostly do not comply with the payment of claims.

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