NAICOM: No Insurance Company Is Forced to Donate to Fight Against Corona Virus

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The National Insurance Commission (NAICOM), has said that it did not force any insurance firm to participate in the on going effort of the umbrella body of insurance underwriters, the Nigeria Insurers Association (NIA) to support fight against spread of Coronavirus.

NAICOM,vstated this to refute recent report by an online medium that it forced insurance companies in the country to make N10 million donation each towards the fight against Coronavirus in the country.

The report had stated that NAICOM in a letter to registered insurance companies compelled the companies to make donations of not less than N10 million to the fight against Coronavirus.

But NAICOM spokesman and Deputy Director, Mr. Rasaaq Salami in a statement to the media, expressed the Commission’s disappointment over the news, describing it as not only false and misleading, but mischievous.

He explained that the commission only called on the companies to join in providing support for government at all levels to the fight against Coronavirus in the country.
He said: “This report is not only false and misleading but mischievous. It is a deliberate attempt to embarrass the Commission.

“No insurance company is being compelled or forced to contribute to the COVID 19 fund. NAICOM only requested the support of insurance companies further to the agreement between her, the Nigeria Insurers Association (NIA) and the Nigerian Council of Registered Insurance Brokers (NCRIB) for a coordinated effort towards making a consolidated contribution to the fund as an industry”. He noted.

He urged the public to disregard the report as false and bias.
NIA , recently offered N5 billion life insurance cover to health workers participating in the fight against COVID-19

In Nigeria and pledged to purchase personal protection equipment and test kits for the workers .
The association did this through support from its members some of who made some cash donation willingly without any body forcing them.”..