Group Commends NAICOM’s Transparency in Insurance Reform Implementation

The Centre for Credible Reforms and Institutional Accountability has commended NAICOM for its handling of reforms under the Nigerian Insurance Industry Reform Act 2025. The group said stronger capital requirements, closer supervision and greater focus on policyholder protection could improve insurers’ ability to settle valid claims. It also said the reforms could help rebuild public confidence in insurance. It urged insurance companies, brokers, reinsurers and professional bodies to support the implementation of the new framework. The group called on NAICOM to maintain transparent engagement with stakeholders and apply the law consistently.

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