Insurance Industry to Launch Revised Edition of Code of Ethics
The insurance industry is to launch a revised edition of its code of ethics for insurance practitioners in Nigeria.
Launching of the industry’s ethical code which will take place in July, will enable insurance practitioners discharge their professional duties with high ethical disposition in order to rebuild and sustain the trust and confidence of the profession and industry ‘s stake holders.
President of the Chartered Insurance Institute of Nigeria(CIIN) , Funmi Babing-Ashaye, who disclosed this at a press briefing to present her 10 months stewardship score card to the media, said the institute has set up a committee to review the industry’s code of ethics such that its provisions are up to date and in tandem with best practices.
On the extent of work done by the committee, Ashaye said: “I am delighted to report that the revised edition of the Code of Ethics for Insurance Practitioners in Nigeria will be launched during the National Insurance Conference which will be held from 8th – 10th July 2018 in Abuja. This Code, which applies to all Insurance Practitioners, clearly define how they should deal with issues and their responsibilities to clients, the general public, government, regulators, the Institute and their professional colleagues.”
The CIIN president said her administration in the institute has to a large extent enhanced insurance awareness in Nigeria.
She said: “As part of the strategy to inform and engage members about the happenings in the insurance industry and economy as a whole, the Council under my leadership, commenced the publication of a monthly e-newsletter. Since the publication of the inaugural edition in September 2017, The Council has continued, without fail, to publish and circulate it to disseminate information to members on major institute and industry events. So far, the Institute has published ten editions of the e-newsletter.
She further added: “As part of the ongoing efforts by the Institute to create insurance awareness amongst the youths, council approved three years ago, the distribution of the Institute’s sponsored insurance text books for Senior Secondary Schools to schools.”
She also noted that under her presidency, a youth empowerment programme tagged, “Catch them Young for Youth Corps members” was initiated in Lagos in December, 2017 in which over 700 Youth Corps members, at the Iyana-Ipaja Camp, registered and participated.