Insurance association to sanction illegal operators

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Insurance association to sanction illegal operators

Henceforth, agents operating illegal insurance marketing will find it difficult to make headway as the Association of Registered Insurance Agents of Nigeria (ARIAN) vowed to sanction such operators.

The body also threatened to blacklist any insurance agent found to be operating illegally on its website and other various forms of publication.

The association’s National Public Relations Officer, Mr Maduako Malachy, disclosed in Lagos that the development was part of the measures underway to bring unregistered or dubious members to book.

Malachy said that marketers of insurance products under the umbrella of the association are noble professionals and are expected to be responsible and trustworthy.

He said that ARIAN, under the current administration, would not tolerate any agent involved in illegal activities within the industry.

The ARIAN spokesman said the association was working out a strong regulatory measure that would guard against unregistered insurance agents using ARIAN registration numbers to do business.

Malachy said ARIAN would soon roll out phone numbers for the public to call and lay such complaints.

“We are working out modalities of discipline for our members because we cannot allow our association to be dragged to the mud,” he said.

According to him, the association is now designing another module of identification to authenticate its registered members and weed out impostors.

Malachy said that some unscrupulous elements parading themselves as insurance agents had found illegal means of using the association’s registration number and fake receipts to obtain approval from the National Insurance Commission (NAICOM).

“NAICOM has been helpful to the association by insisting that agents must have ARIAN registration number before they can get approval from the commission, but these fraudsters have perfected means of having their way around the system,” he said.

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