17 insurance disputes were resolved in Q1-NAICOM

The National Insurance Commission has said that  its customer complaint bureau resolved a total of 17 disputes involving policyholders and insurance companies in the first quarter of 2012.

According to it, this has resulted in N617.8m claims settlement.

In a statement on Friday, the commission also said that in 2011, the bureau resolved 107 disputes out of 347 that were brought before it, which resulted in the payment of N519.08m claims.

According to NAICOM, an interesting thing about the dispute resolution mechanism of the commission is that the number of complaints has been coming down over the years.

This it added, was  an indication that the zero-tolerance stance of the commission on non-settlement of claims by insurance companies had started to yield positive result as companies were now responding well by paying claims promptly.

 Causes of disputes in most cases, the commission stated, included matters relating to the discharge of obligations by insurance companies and intermediaries; non-issuance of document after receipt of premium; delay in settlement of claims; partial or total repudiation of claims; premium paid or payable; and legal construction of the policy wordings.

NAICOM said the complaints bureau dealt largely with policyholders, beneficiaries of insurance contract and third parties to an insurance contract.

 Others it stated included insurance companies, insurance brokers, insurance agents, re-insurance companies, and government agencies such as the Economic and Financial Crimes Commision, Public Complaints Commission, Independent Corrupt Practices and other related Commission, Ministry of Finance, among others.

According to the statement, Senior Registrar, Urology, University of Nigeria Teaching Hospital (UNTH), Enugu, Dr. Okoh Agharighom, was impressed after the successful resolution of a dispute involving him and his insurer by the complaints bureau.

He stated in his letter that, “My faith and confidence as well as those of my colleagues at the University of Nigeria Teaching Hospital (UNTH), Ituku Ozalla, Enugu in the insurance industry and in your efficient regulatory oversight has not only been restored but elevated to a new plateau”.

According to the statement, Adewale Mutalib also had his dispute resolved by the bureau and he wrote that, “I am now totally convinced that NAICOM is up to the task under the able leadership of Mr. Fola Daniel and his team”.

 

Source: Punch/Nike Popoola

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