Outstanding  Claims  Complaints Flood NAICOM, Commission Publishes Names ofDefaulters

Ebere Nwoji

In it’s determination to protect the interest of the insuring public while salvaging the image of the insurance sector, the National Insurance Commission (NAICOM), has made good its threat  to publish names of insurance firms that have outstanding claims to settle for which the insureds have filed complaints against such companies to the commission.

NAICOM, after long period of warnings to insurance firms to reduce to the barest minimum cases of outstanding claims in their books of account, published a list of about 1,582 complaints brought to its table by various customers of insurance companies.

The list, which is conspicuously displayed in NAICOM’s official website with the title “Complaints Against Insurance Companies,”contains complaints lodged by both corporate and individual customers of various insurance firms  in both life and non life policies which claims were not settled due to one controversy or the other between the customers and claims departments of the insurance companies involved.

The claims range from those lodged in 2021 to those lodged in 2034.

Looking at the list, one can see clearly why NAICOM has been warning  insurance firms to reduce number of outstanding claims in their books of account.

The commission since the regime of the present Commissioner for Insurance, Mr Ayo Olusegun Omosehin has maintained that it has zero tolerance to outstanding claims.