Insurance Commissioner Urges Insurers to See Trust as Valuable Asset

The Commissioner for Insurance, Mr Ayo Omosehin, has urged insurance professionals to see trust as the insurance industry’s most valuable asset. Omosehin stated this at the 2026 Insurance Professional’s forum organised by the Chartered Insurance Institute of Nigeria (CIIN) in Abeokuta, Ogun State, saying no amount of capital, technology, or regulation could compensate for a deficit of trust. He said this reality has placed an enormous responsibility on insurers, intermediaries, regulators, and professional bodies alike. According to him, strong governance, ethical leadership, transparency, accountability, fair market conduct, and prompt claims settlement are not merely regulatory requirements but foundations upon which public confidence is built. He also noted that the establishment of the Insurance Policyholders’ Protection Fund under NIIRA 2025 has further strengthened this confidence by providing an additional safety net.

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