By G9ija

The Nigerian Insurers Association (NIA) has appealed to the House of Representatives to assist the industry overcome its challenges through legislations that will expand the frontiers of insurance.

NIA Chairman, Mr. Ganiyu Musa made the appeal when he led a delegation of NIA’s Governing Council on a visit to the Speaker of House of Representatives, Hon. Femi Gbajabiamila.

Musa said the visit was to improve engagements between the association and the lawmakers as the industry needs many legislative interventions to create opportunities for growth.

He requested the lawmakers to remove obstacles militating against the growth of the industry.

On the Insurance Bill, which is in the National Assembly, the NIA chair said the industry is looking forward to the House to give the industry a Bill that would propel it to take its rightful place in the  sector.

He drew the attention of the Speaker to the need to protect the industry from incursions into the insurance space, adding that the support of the House remained critical to the resolution of this issue.

He said: “We need to upscale our engagements so that we can resolve some of the issues facing the industry. We need your support for the Consolidated Insurance Bill, so that we can have a law that will propel the industry to take its rightful place in the financial services sector. We will also appreciate the protection of the House to avoid incursion into the insurance space. We are confident that we will have significant positive outcomes if we continue to engage.’’

Hon. Gbajabiamila promised to collaborate to make laws that would promote insurance.

On the Consolidated Insurance Bill, he stated that since insurance is a technical area requiring special skills and competencies, the House would engage the operators to produce a law that would promote the business.