Lagos — The insurance regulatory body, National Insurance Commission (NAICOM)  has made it mandatory for loss adjusters  companies to register with  the Institute of Loss Adjusters of Nigeria (ILAN).

Speaking at the ceremony to mark the investiture of the ILAN president,  Mr. Darlington Mgbojikwe, in Lagos recently, the commissioner for insurance, Mr. Fola Daniel, who was represented by the director of operations, NAICOM, Mr Abiodun Omilabu, stated that NAICOM has charged ILAN with responsibility of registration of loss adjusters companies into the institute in order to encourage the operations to wean themselves and purge undesirable practitioners before recommending registration into NAICOM.

The newly elected president in his address noted that his predecessors performed creditably well during their respective tenures, adding that the task before him is to build on the strong foundation which they had laid to bring the institute to international standard. He further said that he hope to achieve and add value on the laid down important projects such as completion of ILAN house and equipping of its library, procuring ILAN charter before the end of the year 2011 as well as intensifying education and training programmes.

Other programmes and plans include examinations, maintenance of professional ethics, appropriation of adjusters scale of fees, website maintenance and sustenance of the membership of International Federation of Adjusting Associations (IFAA).

Mgbojikwe noted that the institute's house has been under construction from the late 1990s till date, though it is about 70 per cent completed, he said that the condition of things is as a result of financial constraints.