NAICOM to sanction insurers on rendition of returns

The National Insurance Commission (NAICOM) has mandated insurance institutions to start harmonising the returns being rendered to the commission or face stiff sanctions.
The new directive takes effect from April 1, 2015.
In the circular entitled “Harmonised Returns with Effect from April 2015”, signed by the Director, Supervision, NAICOM, Nicholas Opara, the commission stated that the new directive is to further enthrone regulatory clarity particularly with respect to regulatory returns requirements. Continue Reading