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The body that regulates the activities of insurance market in Nigeria

Insurance
WAEC 2017

The body that regulates the activities of insurance market in Nigeria

  • A. National Insurance Commission
  • B. professional reinsurance association of nigeria
  • C. Nigeria insurers Association
  • D. Nigeria council of registered insurance brokers
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Correct Answer: Option A
Explanation

The National Insurance Commission (NAICOM) was established in 1997 by the National Insurance Commission Act 1997 with responsibility for ensuring the effective administration, supervision, regulation and control of insurance business in Nigeria and protection of insurance policyholders, beneficiaries and third parties to insurance contracts.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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