The National Insurance Commission (NAICOM) has lamented the over concentration of brokerage firms in major cities and reliance on government accounts.

The Acting Commissioner for Insurance, Mr. Sunday Thomas, who spoke when the delegation of the Nigerian Council of Registered Insurance Brokers, led by the President, Mrs. Bola Onigbogi, paid a visit to the commission in Abuja, said insurance companies also concentrate in major cities and rely on government accounts.

He stated that there would not be effective enforcement of compulsory insurance in the hinterland with poor presence of underwriting and brokerage firms.

He called on brokers to establish presence in all the nooks and crannies of the country to accelerate insurance penetration and financial inclusion in the country.

The commissioner said the vision to have the nation’s critical population accept and patronise insurance services would only be achieved if brokers who are professional intermediaries extend more of their operations to remote areas of the country.

While promising the support of NAICOM in accelerating insurance growth by collaborating with all insurance stakeholders, the commissioner advised operators, particularly brokers to be more creative in their product development initiatives so as to make insurance first line of consideration by Nigerians, irrespective of their location and financial status.

Responding, Mrs. Onigbogi said insurance penetration is the cardinal focus  as NCRIB President.

She noted that the issue of enforcement of insurance in Nigeria has always been on demand and supply side.