What do you believe is the single most important factor driving up the cost of living in Nigeria?

There have been reports recently about the policyholders not being settled as of when they were due.

He said, “Most of you have reported instances of some consumers going to some entities you know, not being able to get their claims paid. These are some of the issues we are dealing with. We have some ailing entities that we are trying to manage in order not to disappoint the public.

“This is our job, but also the desire moving forward is to reduce this incident so we don’t have too many entities falling into that category. That involves a lot of work and all of that we are doing currently. But the reality of the situation is that, yes, we have a few that we are managing, and we are hoping to get out of this.”

Omosehin noted, “I am not going to mention how many, but the impact is what we are trying to manage. We don’t want it to rub off on the people who are doing so much. We have entities in this market that are doing a whole lot to change the face of insurance, but the efforts are not coming through.

“The ones people talk about are the negative ones. Honestly, if there are 1,005 claims, 1,003 were settled properly, and two were bad. Nobody talks about the 1,003; it is those two that were not settled that people remember.”

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