The Chartered Insurance Institute of Nigeria has charged its newly inducted associates and fellows with being trustworthy and ensuring ethical practice.
The charge was given at the 2025 Induction Ceremony held at the College of Insurance and Financial Management, Aseese, Ogun State, where 224 Associates and 24 Fellows were inducted as part of ongoing efforts to produce world-class manpower for the insurance industry.
Speaking at the event, the President and Chairman of the Council of CIIN, Mrs Yetunde Ilori, charged the newly inducted members to uphold the highest standards of professionalism in their practice. She noted that insurance is fundamentally a business of trust and stressed that practitioners must conduct their affairs with integrity at all times.
Ilori further urged the newly elevated Fellows to take responsibility for mentoring younger professionals in the industry. She said their new status comes with increased expectations and the obligation to guide the next generation.
According to her, the career growth and professional conduct of Fellows should reflect their elevation, as younger members look up to them for guidance and example.
The Managing Director of Consolidated Hallmark Insurance Limited, Mrs Mary Adeyanju, who delivered the induction lecture, called on the inductees to embrace integrity, professionalism and ethical stewardship as the foundation of their careers. She described professional qualification as only the beginning of a lifelong journey of responsibility, adding that public trust in insurance is sustained by ethical discipline, not certificates alone.
Adeyanju noted the ethical challenges facing the industry, particularly in underwriting, claims and reinsurance, including rate cutting, misrepresentation, fraudulent claims and unreasonable claim denials, all of which she warned eroded public confidence and damaged the credibility of the insurance sector.
She also challenged insurance professionals to address negative public perceptions that “insurance does not pay,” noting that more than N1.03tn was paid in genuine claims between 2022 and 2024. She urged practitioners to share positive industry stories, educate the public and leverage digital platforms to rebuild trust and confidence in insurance.
Delivering the induction speech, the best qualifying Associate, Miss Oloye Olayemi of NEM Insurance Plc, commended the dedication and sacrifices of the inductees. She said the new members are well-positioned to represent the Institute and the insurance industry with excellence.
