The new President, Institute of Loss Adjusters of Nigeria, Diipo Olanrewaju, has positioned his term to address the several challenges that have sprout on the loss adjusters terrain.
Olarenwaju admitted in his acceptance speech yesterday that these multiple challenges were daunting but he was focused to put the might of the Institute to solve them and, he therefore solicited from members to work “cooperatively” with him for the success of his administration.
On scale of fee which he stated was “a very hard nut to crack” and also was no longer sustainable, because it has falling 30 years behind. More so, he said global economy has put the scale of fee on inoperable scale. He therefore, asked for a meeting of minds with the Nigerian Insurers Association (NIA) to create a platform for upward review.
“The global economy has consistently affected the income of loss adjusters greatly, thus, the rate that was approved in October 1992, that is about 30 years ago, can no longer pay adjusters bills. It is highly necessary for this to be reviewed upward. We shall achieve this with constant meetings with the NIA Council,” he stated.
He also promised to move much more firmly in the direction of ILAN Charter. Admitting the long way gone over the years to get to the threshold of Charter at the National assembly, ILAN President not beaten by the long duration and efforts of past administration said earning it “is long overdue and we will continue to direct efforts towards having our Institute Charter.”
To demonstrate the renewed commitment to get the Charter, Olanrewaju made the first act of his term by immediately appointing the man he succeeded Reginald Egbuniwe as the chairman of the reconstituted ILAN Charter Committee and gave him the latitude to appoint other members.
ILAN President also stated his administration will to report unregistered loss adjusters to underwriters whom he said go by such names as consultants and surveyors promising to strive “to eliminate the unregistered loss adjusters in the industry.”
Coming home, he said he would reenact the selfless efforts of the founders who did a great job to acquire the ILAN building by stirring up commitment from members to modernise and further develop it. “We must be prepared to build the legacy bequeathed to us by our past leaders, and I hope that we are all ready to pull our weight towards this.”
He also promised to perfect ILAN constitution, improve awareness of the Institute to the insurance industry to let the industry “know about what we do and how we operate, otherwise we risk the danger of misrepresentation and reduced relevance.”
Drilling into members what the loss adjuster represents he said, “We cannot jettison the tenant of competence and integrity in our progress to become a force in the insurance industry. Therefore, we should see ourselves as partners in progress bearing in mind that our collective aim is to serve the insurance industry better, from whom we do earn our living. If in our little way, we pursue progress and success of the insurance industry, our respective future as an Institute will also be assured.”