The chairperson of the Legal Committee for the Nigerian Insurers Association, Onosen Divine Alegbe, has reiterated that the insurance industry is immensely regulated, and the important role of lawyers in the sector in synergising with the priorities of the Commission.
She stated this when the association held her annual retreat with the theme “The Regulator, The Regulated and The Regulation.”
Alegbe stated that the retreat offered a valuable opportunity for lawyers in the insurance industry to reflect on how to explore proactive strategies in enhancing the regulatory and governance framework.
She said the roles of lawyers in synergising with the priorities of the Commission includes safeguarding policyholders and restoring public confidence in the sector, strengthening supervisory and regulatory capabilities, improving the safety and soundness of the insurance industry, fostering innovation and sustainability, and increasing accessibility and penetration of insurance products across the country.
The event was sponsored by FIN Insurance Company Limited, Cornerstone Insurance Plc, Continental Reinsurance, Linkage Assurance Plc, SUNU Assurances and AXA Mansard.
The chairperson expressed profound gratitude to all sponsors of the event and the Commissioner for Insurance for their representation, which in her view clearly promotes synergy between The Regulator and The Regulated.
