NAICOM resolves N5bn claim disputes in 2016

The National Insurance Commission (NAICOM) on Friday said it resolved claims worth N5.5 billion for aggrieved policyholders in 2016.

Mr Rasaaq Salami, the Head, Corporate Affairs, NAICOM, told the News Agency of Nigeria (NAN) in Abuja that the paid claims were among complaints the commission resolved last year.

“In 2016, NAICOM resolved 218 complaints resulting in the settlement of claims worth over N5 billion to aggrieved policyholders by insurance companies.

“The commission received a total of 413 complaints from aggrieved policyholders against insurance entities in the year under review.

“In resolving the disputes, the commission held adjudication meetings and had direct contacts with all parties involved,’ he said.

According to Salami, the commission is working on and at the verge of resolving 650 ongoing cases from 2014.

He said that the cases were already at different stages of conclusion.

Salami said that the commission was committed toward ensuring the protection of policyholders.

“NAICOM will continue to strive hard to ensure the protection of policyholders, beneficiaries and third parties of insurance contracts,” Salami said.