Why stakeholders must create sustainable insurance policy

Bisola David
Bisola David
Why stakeholders must create sustainable insurance policy

Vanessa Anetoh


The Institute of Loss Adjusters of Nigeria has stressed the need for stakeholders to develop sustainable insurance policies in Nigeria’s risk industry.

This was disclosed over the weekend at the ILAN’s 13th president’s investiture in Lagos State.

Guardian reported that the approach aims to equip industry players with the necessary tools to unlock the untapped potential of the economy and boost confidence in the benefits of insurance.

ILAN’s new president, Diipo Olanrewaju, pledged to build on the successes of his predecessor and introduce innovations to take the institute to new heights.

“In doing so, coordinated efforts be made to ensure that the economic environment and social behavior of people are integrated into the policy formulation and marketing strategy objective of the insurance companies,” he said.

He has called on industry participants to increase the institute’s membership numbers to improve service delivery and eliminate unregistered loss adjusters.

While these adjusters are typically employed by underwriters, they are not authorized to adjust claims. The president pledged that the government would not hesitate to report any underwriters who engage unlicensed loss adjusters and vowed to work towards removing all unlicensed adjusters from the industry.

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *