The National Insurance Commission NAICOM firm position to erase the incidence of no claims admitted and paid by insurance companies has raced further to publish complaints against insurance companies on its website. The Commission’s soar response to persisting outstanding claims either admitted and not paid or not admitted.
Giving the full details of the dimensions of the complaints and the insurers involved the Commission outlined the date of complaints and the claims amount. The unrestrained disclosure named the 46 companies involved and the frequency of complaints ranging from two to deluge of over 300 per company.
The present handlers of NAICOM have made a cornerstone policy to reduce to the barest level the report of claims not paid by insurers. To clear mounting complaints of outstanding claims, the Commission charged insurance companies last November to ensure they cleared all their outstanding claims before the end of the year. The Commission had insisted in every recent fora the claims payment is an obligation that should not be detached. The decision to go public tallies with NAICOM charge to Directors of insurance companies that they would be held to account for accounts of their companies that violate the rules of corporate governance.
