The Nigerian Insurers Association (NIA) has warned its members against unethical practices that would bring about disrepute to the image of the Association.
The chairman of the Association, Ganiyu Musa gave the warning during a parley with the media held at the lnsurers House in Lagos today.
According to him, the Association places high premium on members’ discipline and has zero tolerance for unethical practices, especially as they relate to non-payment of genuine claims and soft market practices.
The very reason, he said, the Association had to invoke the constitutional provision to expel three of its members for acts capable of bringing the Association into disrepute. The affected companies were Industrial And General Insurance Company Plc (IGI). Niger Insurance Plc., and Standard Alliance Insurance Plc.
On dispute resolution, Musa added that the NIA Customer Complaints Bureau in the past year had resolved several cases between insurance companies and policyholders on one hand, and between insurance companies themselves thereby engendering confidence of the insuring public in the insurance industry.