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Cost of insurance brokering in Nigeria excessive: Insurance group

December 19, 2013 - 6:00am

The cost of insurance brokering in Nigeria is excessive and is set to put brokers out of business, an insurance group said.

The Association of Professional and Practising Insurance Brokers of Nigeria said "the cost of doing business for brokers and, indeed, underwriters alike, has become prohibitive," Leadership reported. It added only 10% of the nation's economy was insured.

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