Use brokers for your insurance – NCRIB chief advises

LAGOS – The President of Nigerian Council of Registered Insurance Brokers (NCRIB), Mr Ayodapo Shoderu, on Monday urged consumers to use brokers for their insurances.

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Shoderu gave this advice in an interview with the News Agency of Nigeria (NAN) in Lagos.

He said that Nigerians had not fully understood the importance of brokers in the insurance value chain.

“In as much as the council is inventing ways to grow insurance broking, it is our duty also to educate the insuring public on what the brokers represent in the industry.

“We discover that most insurance consumers, individuals, corporate or public entities do not know the value brokers can render to their insurance.


“The broker is in the best position to get best bargain for the consumer from the intrigues in insurance contracts documents,’’ he said.

Shoderu said the council had started with the publication of list of its members to ensure that the insuring public did not do business with unregistered brokers.

According to him, the council is also trying to rid itself of fake brokers, insisting that the effort at ridding the quacks must be collective.

According to him, it behooves on the practitioners to mount surveillance across zones of the country and fish out illegal brokers with a view to bringing them to book.

Shoderu said the council would be more stringent in admitting new members to prevent infiltration.

The law stipulates that no one should undertake insurance broking in Nigeria without due registration with NCRIB. (NAN)


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