The National Insurance Commission (NAICOM) on Monday urged the Chartered Insurance Institute of Nigeria (CIIN) to complement the commission’s efforts at eradicating unethical practices in the industry.
NAICOM spokesman, Rasaaq Salami, in a statement said that the Commissioner for Insurance (CFI), Alhaji Muhammed Kari called for the support at the just-concluded Chartered Insurance Institute of Nigeria (CIIN) Professional Forum in Abeokuta.
The statement quoted Kari as saying “I congratulate Mrs Funmi Babington-Ashaye on her ascendance to the leadership of CIIN, as the President and Chairman of the Governing Council.
“As I earlier assured, you can count on the support of the Commission at all times in your drive to lift the Institute higher.
“In my message at the investiture of the new President on July 25, I challenged the Institute on the urgent need to reinvent itself as a professional body.
“There is need to update the institute curriculum to either adopt contemporary best practices.
“By a simple exercise, we can ask ourselves how many of the CIIN’s certified and qualified members have exhibited and sustained the spirit of the profession.
“How many insurers conduct businesses in line with the ethics, standards and principles that guide the practice of an insurance professional?,” Kari asked
Kari said the conduct of some professionals is appalling , he, therefore, urged the Institute to take a critical look with a view to coming up with measures to arrest it.
“We look forward to a day when a professional will be de-certified by the Institute for unprofessional conduct.
“Cases are abound around us in other professions where the privileges of a practitioner is withdrawn for some unacceptable act
“If there is institute to complement the efforts of the commission to crush the abysmal acts, it is CIIN,” Kari said