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Chartered Insurance Institute, Nigeria

The CIIN is the premier professional organisation for those working in the insurance and financial services industry. It is dedicated to promoting higher standards of competence and integrity through the provision of relevant qualifications for employees at all levels and across all sectors of the industry ...
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Nigerian Council of Registered Insurance Brokers (NCRIB)

The Nigerian Corporation of Insurance Brokers, the precursor of the Council, was established in 1962 to provide a central organization for the regulation of all practicing Insurance Brokers in Nigeria. This body got its first legal recognition in 1991 when the Insurance Decree N0 58 of 1991 ...
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The Nigerian Insurers Association (NIA)

The Nigerian Insurers Association (NIA) promotes and upholds the universally accepted standards of business ethics and professional integrity among its members, using modern technology in maintaining and disseminating information globally. The goal of the Association is to protect and advance ...
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From The Glossary »


Commutation Clause:

A clause which provides, if mutually agreed by the parties, for the estimation and complete discharge of payment to the ceding company by the reinsurer of all future obligations or reinsurance loss or losses incurred, regardless of the continuing nature of certain losses. This clause is utilised mostly in non-proportional liability reinsurance treaties.
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