on Tuesday announced the withdrawal of the operational licences issued to Standard Alliance Insurance Plc and Niger Insurance Plc.
Although no official reason was given for the revocation of the insurance firms’ operating licences, NAICOM by law can revoke the certificate of registration of an insurer if it is insolvent, about to suspend payment of claims to any extent, or unable to meet its obligations.
Interesting, though avoidable. Hopefully others will sit up.
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