….Applaud Oyo government over response to fire victims

The Nigerian Council of Registered Insurance Brokers (NCRIB) has underscored the pivotal role of insurance in disaster management in the country. However, it bemoaned the fire disaster that ravaged Akesan Market (Oja Akesan), in Oyo town, where properties worth millions of naira were destroyed.

But the council expressed gratitude to the state’s Governor, Seyi Makinde, for his promise to bring succor to the victims of the incident, as well as provide firefighting equipment to forestall a repeat of such ugly incidents

NCRIB President, Dr. Bola Onigbogi, who spoke to The Guardian, over the weekend, decried the spate of incessant fire disasters in the country, noting that such occurrences were preventable by government than those often concerned.

According to her, risks are part of the inevitable circumstances of life, which effect could be better managed by engaging insurance as it is practiced in advance countries of the world. However, she noted that to maximise the value of insurance, the best option for existing and potential clients was to engage the services of insurance brokers.

According to her, the brokers are in the position to advise clients on best possible type and rate of insurance, as well as assist them to make their claims when a loss occurs. She called on the government to always embrace insurance for effective prudential management and to assist the citizens by shifting the burden of compensation to insurers when loses occur to them, against the government’s attitude of giving succor to the victims, which in most cases, may be inadequate.

New Registration

Carefully read the requirements for becoming a member below:

ELIGIBILITY REQUIREMENTS FOR INTENDING MEMBERS

 

1. INDIVIDUAL MEMBERSHIP

There are two types: a. Associate membership and b. Fellowship

a. REQUIREMENTS FOR ASSOCIATE MEMBERSHIP

  1. Applicant must possess AIIN, ACII or other Associateship Diploma in Insurance recognized by the Chartered Insurance Institute of Nigeria (CIIN).
  2. Applicant must have five (5) years practical experience in the Insurance industry, two (2) of which must be as a Senior Management position in a registered Insurance Broking firm.
  3. He/ she must satisfy the Council that he is of good character.

DOCUMENTS TO BE UPLOADED

  1. Duly completed and signed Associateship Application Form (The Applicant is to be nominated by two (2) ACIB or FCIB Members).
  2. Payment receipt of a non-refundable Application fee of N7,500.00.
  3. Copies of all Credentials (Academic qualification & Professional Certification).
  4. Detailed Curriculum Vitae.
  5. Two (2) passport photographs in corporate outfit.
  6. The CEO’s valid means of identification (International Passport or Driver’s license or National I.D Card or Permanent Voters Card).

b. REQUIREMENTS FOR FELLOWSHIP REGISTRATION

An Applicant interested in becoming a Fellow of The NCRIB must possess the following;

  1. Must be nominated by at least two Fellows of The NCRIB.
  2. FCII/FIIN certification with a minimum of five (5) years Insurance Broking experience at top management level, OR
  3. ACII/AIIN and ACIB qualification with a minimum of ten (10) years Insurance Broking experience, five (5) of which must be at a top management position in a Registered Insurance Broking firm.
  4. Must be fit and proper, of proven integrity and professional conduct.
  5. Must provide evidence of active participation in the Council and Area Committees’ activities.
  6. Must be certified by an Area Committee Chairman of The NCRIB.
  7. Submit a 3,000 to 3,500 word dissertation on an Insurance Broking – related topic.
  8. Submit a 3,000 to 3,500 report on a major project led by the applicant or of which the applicant was a leading member in the Council.

DOCUMENTS TO BE UPLOADED

  1. Duly completed and signed Fellowship Application Form
  2. Payment receipt of a non-refundable Application fee of N7,500
  3. Original copy of academic qualification and professional certification as filled in the Application form.
  4. Detailed and updated Curriculum Vitae (CV).
  5. Two clear passport photographs in corporate outfit.
  6. Valid means of Identification (International Passport or Driver’s License or National I.D Card or Permanent Voters Card).

Registration fees:

  1. Fellow Award Fee – N250,000
  2. Administrative Charges – N50,000
  3. Brochure of Events – N10,000

 

2. CORPORATE MEMBERSHIP

REQUIREMENTS FOR CORPORATE MEMBERSHIP REGISTRATION

  1. The Company must be a limited liability company incorporated in Nigeria.
  2. The CEO must possess AIIN, ACII or other Associateship Diploma in Insurance recognized by the Chartered Insurance Institute of Nigeria (CIIN).
  3. The CEO must be a Registered Insurance Broker (Where the CEO is not a Registered Insurance Broker, he/ she should register as an Associate member).
  4. The CEO must have Five (5) years practical experience in the Insurance industry, two (2) of which must be at a Senior Management position in a Registered Insurance Broking firm.
  5. The CEO must satisfy the Council that he is of good character.
  6. The Company must have a working capital of not less than five million naira only (N5, 000,000.00) made up of verifiable movable and immovable assets and cash in proportion, as the Council may decide.

DOCUMENTS TO BE UPLOADED

  1. Duly completed and signed Application Form filled by the CEO (the CEO is to be nominated by Two ACIB or FCIB members).
  2. Duly completed and signed Membership Listing Application Form.
  3. Certificate of Incorporation of the Company.
  4. Memorandum & Articles of Association of the Company.
  5. Operations Manual of the Company.
  6. 5 Years Business Plan of the Company.
  7. Professional Indemnity Cover (not less than 10m any one loss).
  8. Copies of all Credentials of the CEO (Academic & Professional Certificates).
  9. Detailed Curriculum Vitae of the CEO.
  10. Resignation Letter of the CEO from previous employer (if previously employed).
  11. Acceptance of Resignation Letter of the CEO from previous employer.
  12. The CEO’s Offer/ Letter of Employment from current employer.
  13. Two (2) passport photographs of the CEO in corporate outfit.
  14. The CEO’s valid means of identification (International Passport or Driver’s license or National I.D Card or Permanent Voters Card).
  15. Copies of forms C02 & CO7 stating the Chief Executive Officer is a Director with at least 25% equity shares in the Company.
  16. Evidence of payment of the CEO’s equity share.
  17. Sworn Affidavit by the CEO that The Company has a Clients’ Account.
  18. Sworn Affidavit by the CEO that The Company does not have more than 10% interest in a loss adjusting firm or Reinsurance Company in Nigeria.
  19. Payment Receipt of a non-refundable Application fee as follows:
    • (a) CEO who is NOT an Associate Member of the Council N57,500.00
    • (b) CEO who is an Associate Member of the Council N50,000.00
  20. Payment Receipt of part payment of Registration fee N440,000.00
  21. The Total Registration fee is as follows;
  • Registration fee                N500,000.00
  • Building Levy                    N200,000.00
  • Pre-induction Training       N50,000.00
  • Compulsory Levy                N50,000.00
  • Associateship admission    N50,000.00
  • Induction fee                     N30,000.00
  • Total                               N880,000.00

3. CHANGE OF CEO OF CORPORATE MEMBERSHIP

REQUIREMENTS FOR CHANGE OF CEO REGISTRATION

  1. The CEO must possess AIIN, ACII or other Associateship Diploma in Insurance recognized by the Chartered Insurance Institute of Nigeria (CIIN).
  2. The CEO must be a Registered Insurance Broker (Where the CEO is not a Registered Insurance Broker, he/ she can register as an Associate member).
  3. The CEO must have Five (5) years practical experience in the Insurance industry. Two (2) of which must be at a Senior Management position in a Registered Insurance Broking firm.
  4. The CEO must satisfy the Council that he is of good character.

DOCUMENTS TO BE UPLOADED

  1. Duly completed and signed Application Form filled by the CEO (the CEO is to be nominated by Two ACIB or FCIB members).
  2. Payment receipt of a non-refundable Application fee of N7,500.00 (if the CEO is not an Associate Member of the Council).
  3. Copies of all Credentials of the CEO (Academic & Professional Certificates).
  4. Detailed Curriculum Vitae of the CEO.
  5. Resignation Letter of the CEO from previous employer (if previously employed).
  6. Acceptance of Resignation Letter of the CEO from previous employer.
  7. The CEO’s Offer/ Letter of Employment from current employer.
  8. Two (2) passport photographs of the CEO in corporate outfit.
  9. The CEO’s valid means of identification (International Passport or Driver’s license or National I.D Card or Permanent Voters Card).
  10. Copies of forms C02 & CO7 stating the Chief Executive Officer is a Director with at least 25% equity shares in the Company.
  11. Evidence of payment of the CEO’s equity share.
You can Contact:

“The Executive Secretary,

 The Nigerian Council of Registered Insurance Brokers

 58, Moleye Street Alagomeji

 Yaba, Lagos.

If you are satisfied with the above, then click below to apply for registration:

New Application

Click for Registration/New Application
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