Yemisi Izuora
The Institute of Loss Adjusters of Nigeria (ILAN), has called for strong insurance market compliance and reforms to improve market conditions and development.
Above were key takeaways from the visit by ILAN President, Pastor Ikechukwu Udobi, to the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, at the National Insurance Commission (NAICOM).
Udobi, expressed profound gratitude to the Commission and the Commissioner for Insurance for the successful revision of the Loss Adjusters’ Scale of Fees, an achievement he described as a significant milestone toward revitalizing the profession after decades of stagnation.
The ILAN President further emphasized the need for enhanced training and continuous capacity-building programmes, especially in specialized areas such as energy, oil & gas, and special risks. According to him, these efforts are crucial to elevating Nigerian loss adjusters to international standards. He also advocated for stronger collaboration between foreign and Nigerian loss adjusters to deepen knowledge-sharing and industry development.
Udobi stressed the importance of strict compliance with extant laws, regulations, and market guidelines, urging NAICOM to ensure that all market operators fully comply with statutory requirements in their operations. He also appealed for the Commission’s support in securing a befitting secretariat for ILAN to strengthen the Institute’s administrative capacity.
Omosehin, while speaking welcomed the ILAN delegation and expressed appreciation for the visit. He assured them of the Commission’s commitment to supporting every segment of the insurance industry as part of the broader transformation agenda. The CFI emphasized the need for professionalism and ethical conduct in the discharge of loss adjusting responsibilities, noting that adjusters play a critical role as the bridge between policyholders’ expectations and their satisfaction.
The meeting also underscored the importance of strict adherence to the Code of Conduct and Professional Ethics for Loss Adjusters to enhance the credibility and quality of practice within the profession.