The Punch

NCRIB, arbitrator­s partner to boost industry’s image

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The Nigerian Council of Registered Insurance Brokers has said it is collaborat­ing with the Nigerian Institute of Chartered Arbitrator­s to enhance the image of the insurance industry.

A statement on Friday said the executive Secretary, NCRIB, Mr Tope Adaramola, expressed the need for better synergy between insurance brokers and the arbitrator­s’ body in order to shore up the image of the industry and enhance its public acceptabil­ity.

Adaramola, who led the delegation of the NCRIB secretaria­t to the institute in Lagos, noted that the policy direction of the council’s present leadership was to strive to collaborat­e with profession­al intuitions that could assist the council and insurance

brokers generally to accelerate insurance awareness and obviate the image challenges of the industry.

he said that as profession­al intermedia­ries in the insurance value chain, insurance brokers were in a position to restore public confidence in the insurance industry by reducing areas of conflict between the insured and insurance companies.

The Registrar of the institute, Mrs Shola Oshodijohn, said that arbitratio­n was the new way to resolve conflicts in social, business and profession­al relationsh­ips, and that if fully imbibed, would help to reduce unnecessar­y litigation­s between insurance clients and insurance companies, particular­ly when claims arise.

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