Insurance companies take pride in their ability to promptly pay legitimate claims, which demonstrates their integrity and reliability. Policyholders can have peace of mind knowing that if a claim arises, their insurance company will handle it efficiently. Therefore, it's crucial to thoroughly research which insurance company to choose before making a decision.

In the past, the insurance industry in Nigeria had a reputation for not paying claims promptly, and some insurance companies even went bankrupt for various reasons. However, this has changed rapidly as the National Insurance Commission (NAICOM) introduced policies to strengthen and stabilise the industry.

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