Brokers, Arbitrators Partner on Insurance Growth

The Assistant Executive Secretary, Nigerian Council of Registered Insurance Brokers, Mr. Gbenga Falade; Executive Secretary, Mr. Tope Adaramola and Registrar/CEO, Nigerian Institute of Chartered Arbitrators,(NICArb) Mrs. Shola Oshodi-John during a courtesy visit of NCRIB delegation to NICArb in Lagos 

In a bid to enhance the image of the insurance industry, the Nigerian Council of Registered Insurance Brokers (NCRIB) is steeping up collaboration with the Nigerian Institute of Chartered Arbitrators.

The NCRIB had through its Executive Secretary, Mr. Tope Adaramola expressed the need for better synergy between Insurance Brokers and the arbitrators’ body in order to shore up the image of the industry and enhance its public acceptability.

Adaramola who led the delegation of the NCRIB Secretariat to the Institute in Lagos noted that the policy direction of the Council’s present leadership  is to strive to collaborate with professional institutions that could assist the Council and Insurance Brokers generally to accelerate insurance awareness and obviate the image challenges of the industry, generally.

He said that as professional intermediaries in the insurance value chain, Insurance Brokers were in a position to restore public confidence in the insurance industry by reducing areas of conflict between the insured and insurance companies.

In her response, the Registrar of the Institute, Mrs. Shola Oshodi-John disclosed that arbitration was the new way to resolve conflicts in social, business and professional relationships and that if fully imbibed, would help to reduce unnecessary litigations between insurance clients and insurance companies, particularly when claims arise.

She said the Institute has accelerated its collaboration with strategic institutions and the training of individuals to become professional arbitrators, making them more valuable in their professions and lives.