Lagos - Insurance companies operating in the country may soon be asked to raise the bar and adopt more stringent rules in their operations.
The changes being considered by the National Insurance Commission (NAICOM are part of measures designed to boost their financial strength, reports ThisDay.
Fola Daniel, Commissioner for Insurance, said the new regulations being proposed will greatly impact on the industry.
He noted that while operators believed that the industry is over-regulated both the International Monetary Fund (IMF) and Standards & Poors (S&P) insist that insurance practice is under- regulated in Nigeria.
Read more at ThisDay.
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