By Abiodun Folarin
WorldStage– The National Insurance Commission (NAICOM) has strengthened its collaboration with the Association of Registered Insurance Agents of Nigeria (ARIAN) to enforce the NIIRA 2025 framework and protect insurance consumers from fraudulent and unauthorized operators in the industry.
The renewed partnership was announced during a courtesy visit by ARIAN President, Mr. Olatubosun Mayowa, to the Commissioner for Insurance, Olusegun Omosehin, at NAICOM headquarters.
Omosehin at the engagement, however reaffirmed the Commission’s commitment to sanitizing the insurance market through stricter regulatory enforcement and coordinated actions against unethical practices.
He stressed that consumer protection and market integrity remain at the core of NAICOM’s mandate.
The Commission said it would immediately intensify enforcement measures targeting persistent abuses in the sector, including unlawful rate-cutting, product misrepresentation, and the sale of insurance products by unlicensed operators.
According to the Commissioner for Insurance, such activities continue to erode public confidence and threaten the stability of the insurance industry.
In his remarks, ARIAN President, pledged ARIAN’s support for NAICOM’s regulatory drive, noting that the association’s nationwide grassroots network would help provide market intelligence, strengthen consumer protection, and identify unscrupulous operators.
Both organisations also agreed to deepen collaboration on capacity building and compliance by expanding training programmes for insurance agents and improving digital onboarding processes for licensed operators.
ARIAN further promised to support members experiencing difficulties with NAICOM’s digital platforms while increasing the number of properly licensed insurance agents across the country.
As part of efforts to improve public awareness, NAICOM said it would lead joint media and consumer education campaigns to help Nigerians identify genuine motor insurance policies, verify licensed insurers, and report suspected fraud through official complaint channels.
Omosehin added that the Commission would continue to promote transparent and healthy insurance distribution networks to encourage legitimate participation and deepen insurance penetration nationwide.
He warned that NAICOM would deploy its full regulatory and legal powers against any entity illegally underwriting regulated insurance products, insisting that unlicensed operators would not be allowed to undermine the industry.
The Commissioner also advised members of the public to remain vigilant by confirming the licensing status of insurers, reviewing policy documents carefully, and reporting suspicious activities such as forged documents, unauthorized sellers, and unusually cheap premiums to the Commission.
