Insurance supervisory committee

According to the Nigerian law, owners of public or private buildings are required to insure their properties against various risks. The supervisory committee, entrusted with the monitoring of this law, has started data collection on public buildings. This move initiated by the authorities is designed to strengthen the market and ensure that cover obligations are respected. Out of the 16 compulsory covers, the supervisory bodies are focusing on five types of policies whose implementation and monitoring have a great impact on economic activities.