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NIGERIA: NAICOM Collaborates NLC to Grow Group Life Business

As part of efforts to drive the compulsory Group life assurance for workers at the expense of their respective employers, the National Insurance Commission (NAICOM) is currently collaborating with the Nigeria Labour Congress (NLC).
The two bodies agreed to collaborate on the implementation of mandatory group life assurance .scheme which is expected to provide cover for all working people in the country.
 
The leadership of both organisations indicated their readiness to collaborate on this initiative   when the Commissioner for Insurance, Mr. Fola Daniel led other top officers of the commission members on a working visit to the President of NLC,  Mr. Abdulwahed Omar in Abuja recently.
 
Speaking during the visit, Daniel pointed out that one of the major functions of the commission is protection of existing and prospective insurance policyholders in the country.
 
He highlighted some of the benefits of the group life assurance scheme made mandatory by the Pension Reform Act, 2004 and advised the congress to ensure that its members, especially at the State and Local Government levels are adequately insured by their respective employers.
 
The commissioner also commended the leadership of the congress for its contributions towards the successful resolution of the prolonged industrial action embarked upon by members of the Academic Staff Union of Universities late last year.
 
Responding, the NLC president assured that the congress would collaborate with NAICOM in sensitising Nigeria workers and the general public on the benefit of insurance products.
 
He made a case for a joint working committee of the two organisations for strategic planning and implementation to enable them achieves the desired result.
He also suggested that the committee draws its members from NAICOM, NLC and the National Pension Commission (PenCom) to ensure efficiency and effectiveness.
 
Meanwhile, the Assistant Director in charge of Corporate Communications at NAICOM, Mr. Rasaaq Salami in a statement in Abuja yesterday, said the committee would soon be inaugurated.
 
He also said the meeting between NAICOM and NLC was successful, adding that those in attendance at the meeting include the Deputy President of the congress, Mr. Issa Aremu.
 
Also at the meeting were the  President of the Nigerian Civil Service Commission Union (NCSU), Mr. Kiri Mohammed and President of the National Union of Petroleum and Natural Gas (NUPENG), Mr. Igwe Achize among others, he stated. 

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