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To
further instill confidence of insurance in insuring public, the
Group Managing Director of LASACO Assurance Plc., Mr. Olusola
Ladipo - Ajayi has urged insurance operators to focus on ethical
standard and ensure strong adherence to professionalism.
This, he said,
had become imperative in order to ensure willing patronage of
insurance products, especially at this dispensation of enforcing
compulsory insurance products.
Ladipo – Ajayi
said it was highly expected of insurance operators to build the
confidence of the society and ensure it sees the benefits of
insurance.
The industry,
according to him, cannot tolerate insurers who do not operate by
the rules and set guidelines for the industry, adding that it
was one vantage way to develop the industry and compete
favourably in the global market.
According to
him, “We all need to be more ethical in our approach to
business. We should be putting professionalism at work.”
Ladipo – Ajayi,
who is also the Chairman of Nigerian Insurers Association (NIA)
said, “It is our focus to ensure that operators perform their
functions properly. NIA will not with any member who refuses to
comply with guidelines”.
He said that
the industry had looked at the market agreement and had resolved
to put it to work. “We are hoping our colleagues will show
commitment. We resolved to co - operate with NAICOM by complying
with all directives. It is important to assist NAICOM to achieve
its objectives which are in the best interest of the industry.
It is important for the industry to support NAICOM to develop
the industry.”
Underscoring
the commitment to this company, Ladipo – Ajayi noted that his
company, LASACO Assurance Plc, prided itself in being one of the
most ethical companies in insurance industry.
“it is one of
the strong areas and we have good corporate governance even
before NAICOM stipulated some guidelines on it. We know we have
done well because most of the issues raised in the NAICOM’s
guidelines are what we have been practicing since we commended
operations.
“In terms of
ethical behavior, we are professionals in our own approach to
underwriting and claims in this company. Even in the period of
recapitalization, LASACO has never been given any query or
adverse comment by the regulator and events have proved that
LASACO is ethical in all ramifications,” he added.
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