Insurance reform

Different players of the market including the Nigerian Insurance Association (NIA), the Nigerian Committee of Registered Insurance Brokers (NCRIB), the Professional Reinsurance Association of Nigeria (PRAN) and the Institute of loss adjusters of Nigeria (ILAN) have met representatives of the federal government in order to make amendments to the insurance code.

According to some professionals, the current code is hardly binding and is in need of being revised with a view to restoring public confidence and that of the market players.