The National Insurance Commission (NAICOM) has urged the Nigerian Insurers Association (NIA) to lead efforts to rebuild public trust in Nigeria’s insurance industry as the sector undergoes major reforms.
The Commissioner for Insurance, Olusegun Ayo Omosehin, made the call during the investiture of Mrs. Ebelechukwu Nwachukwu as the 27th Chairman of the NIA in Lagos. She becomes the first woman to lead the Association.
Omosehin described her appointment as historic, noting that it comes at a critical time following the signing of the Nigerian Insurance Industry Reform Act (NIIRA) 2025 and the ongoing recapitalisation exercise scheduled to end on July 31, 2026.
He said the industry must now focus on rebuilding public confidence through prompt claims settlement, stronger regulatory compliance, and greater innovation.
The Commissioner outlined three priorities for the Association’s new leadership: promoting a culture of claims excellence, strengthening enforcement of compulsory insurance policies, and expanding access to insurance through digital platforms, microinsurance, Takaful, and other innovative products.
NAICOM also reaffirmed its commitment to stronger consumer protection, improved governance, and risk-based supervision under the new insurance law.
In his remarks, Omosehin urged the new leadership to unite the industry and extend insurance coverage
