National Insurance Commission (NAICOM)
NAICOM
About
The National Insurance Commission (NAICOM) is a government-owned parastatal in Nigeria's insurance industry. Its main goal is to protect insurance policyholders and ensure the industry operates smoothly and efficiently, under the leadership of the Commissioner for Insurance, Mr Olusegun Omosehin. NAICOM sets guidelines for insurance businesses, approves insurance prices and name changes, and helps make sure vital government assets are adequately safeguarded. It also provides annual reports on the insurance industry, advises the Federal Government on insurance matters, and works with government entities and groups to promote insurance education and training.
History
The National Insurance Commission was founded in 1997 to protect insurance policyholders and guarantee the smooth and efficient operation of the insurance industry in Nigeria. It was established under the National Insurance Commission Act 1997.
Key Facts
Established
1997
Headquarters
Plot 1239, Ladoke Akintola Boulevard, Garki II Abuja
Commissioner for Insurance/Chief Executive
Olusegun Ayo Omosehin
Jurisdiction
Nigeria
Abbreviation
NAICOM
Website
naicom.gov.ng