The National Insurance Commission (NAICOM) has pledged deeper collaboration with the Abia State Government to protect economic activities and strengthen investor confidence in the state.
This commitment was reinforced on Monday when the Commissioner for Insurance, Mr. Ayo Omosehin, led a delegation on a courtesy visit to Abia State Governor, Alex Otti at the Government House in Umuahia.
The visit, according to a statement made available on Tuesday by NAICOM, brought together senior officials from the NAICOM and the leadership of major insurance industry bodies to explore strategic partnership opportunities with the Abia State government.
At the heart of discussions was the role of insurance in safeguarding business investments, mitigating risk, and securing livelihoods across key sectors of the Abia economy.
Omosehin stressed that a resilient insurance system was not a luxury but a foundation for sustainable economic growth.
The Commissioner used the occasion to brief the governor and his Executive Council on recent regulatory reforms, with particular focus on the newly established Insurance Policyholders’ Protection Fund (IPPF).
Instituted by the NAICOM under the provisions of the Nigeria Insurance Industry Reform Act 2025 (NIIRA 2025), the fund is designed to ensure the prompt and equitable settlement of valid claims, reinforcing consumer trust, and market stability.
Governor Otti welcomed the initiative, commending the NAICOM’s leadership for the visible progress recorded in the sector.
He pledged his administration’s full support for a sustainable insurance partnership that would advance risk management , deepen insurance awareness, and bolster economic resilience across Abia State.
The delegation included the Deputy Commissioner (Finance & Administration), Mr. Ekerete Ola Gam-Ikon, alongside presidents and senior executives from the Nigerian Council of Registered Insurance Brokers (NCRIB), Nigerian Insurers Association (NIA), Chartered Insurance Institute of Nigeria (CIIN) and the Institute of Loss Adjusters of Nigeria (ILAN).
