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Nigeria: Insurance industry benefits from 'no premium no cover' policy

December 18, 2013 - 6:00am

The National Insurance Commission has introduced several new measures, ThisDay Live reported.

Wale Onaolapo, managing director of Sovereign Trust Insurance P.L.C., said the 'no premium no cover' policy is a blessing to the industry.

Meanwhile, several insurance operators had issues with conversion from the Nigerian Generally Accepted Accounting Principles to the International Financial Reporting Standards, Nicholas Opara, director in charge of supervision at the NAICOM, said.

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