The National Insurance Commission (NAICOM) has advised the Gombe State Government to ensure adequate provision of insurance for its assets and property.
The Commissioner for Insurance, Mohammed Kari who made the plea when he led a delegation to the Gombe State Government, said the commission has established a dedicated committee to assist state governments in insuring their assets and property accordingly.
The committee, he said will be ready “to work with your people once we receive your nod sir”.
Kari said the insurance sector has under gone several reforms which have significantly changed the face of insurance in the country.
The reform efforts have also attracted significant Foreign Direct Investment in the sector, he said, adding that as at today, no fewer than 10 companies have one form of foreign investment partnership or the other with many more still waiting to come in.
This has brought about efficiency, prompt payment of claims and most importantly, healthy competition amongst operators, the Commissioner said
With an estimated population of over 170 million people and given the present level of insurance penetration in Nigeria, the potential of the market is yet to be fully explored”, he assured.