The Nigerian Senate has repealed the National Insurance Commission Act of 1997, passing the Insurance Regulatory Commission Bill, 2025. This new legislation aims to modernize the insurance sector, enhance regulatory oversight, and align with global standards.
The National Insurance Commission supports the Lagos State Building Insurance Scheme, aiming to enhance insurance penetration and consumer protection. The scheme provides financial protection against losses from fire, flooding, and structural collapse, with commitments to elimina
The Lagos State Government launched the Lagos State Building Insurance Scheme (LAGBIS) to enforce building insurance for structures above one storey. Governor Babajide Sanwo-Olu emphasized the importance of safety in urban development, aiming to protect property owners and tenant
