The economic situation is hindering the development of compulsory insurance

The National Insurance Commission (NAICOM) is conducting a policy designed to encourage the underwriting of compulsory insurance policies. By choosing five compulsory covers out of the fifteen policies available on the market, the commission is endeavoring to promote these pioneering products despite the economic crisis in the country. The current economic situation, exacerbated by power outages discourage Nigerians to underwrite insurance policies.