{"id":24851,"date":"2018-07-05T12:35:35","date_gmt":"2018-07-05T11:35:35","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=24851"},"modified":"2018-07-05T12:35:35","modified_gmt":"2018-07-05T11:35:35","slug":"fg-to-introduce-new-classification-for-insurance-firms","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/fg-to-introduce-new-classification-for-insurance-firms\/","title":{"rendered":"FG to Introduce New Classification For Insurance Firms"},"content":{"rendered":"<p>The Federal Government, through the National Insurance Commission, plans to introduce a new classification policy in the industry, the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr Muhammad Kari, has said.<\/p>\n<p>Kari stated this at an executive breakfast meeting organised by the Society for Corporate Governance Nigeria, in Lagos on Wednesday.<\/p>\n<p>According to him, under the planned policy, insurance firms will be classified on a risk-based system, where they will be restricted to their areas of competence and abilities.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>In a lecture entitled, \u2018Corporate governance and the Nigerian insurance industry\u2019, Kari said the policy would restrict insurance companies to operate only within their areas of core competences and capital assets.<\/p>\n<p>The commissioner stated, \u201cWe are used to classifying companies with their capital but we are working on the process of introducing risk-based classification, which will try to see what assets or capital can cover.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Federal Government, through the National Insurance Commission, plans to introduce a new classification policy in the industry, the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr Muhammad Kari, has said. Kari stated this at an executive breakfast meeting organised by the Society for Corporate Governance Nigeria, in Lagos on Wednesday. According to &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":17948,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[714],"coauthors":[2391],"class_list":["post-24851","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-fg"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FG to Introduce New Classification For Insurance Firms - National Wire<\/title>\n<meta name=\"description\" content=\"The Federal Government, through the National Insurance Commission, plans to introduce a new classification policy in the industry, the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr Muhammad Kari, has said.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/fg-to-introduce-new-classification-for-insurance-firms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FG to Introduce New Classification For Insurance Firms - 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