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Guidelines for Oil and Gas Insurance Business

The National Insurance Commission has the primary responsibility for regulating insurance business in Nigeria and is collaborating with the Nigerian Content Development and Monitoring Board (NCDMB) to ensure compliance with relevant provisions of the Nigeria Oil & Gas Industry Content Development Act 2010 and other laws relating to insurance.

This Guideline has been issued for the purpose of establishing uniform set of rules, regulations and standards for contracts of insurance within the Oil & Gas industry in Nigeria.
 
This Guideline is intended to facilitate compliance with the Nigeria Oil & Gas Industry Content Development Act 2010 as well as ensure value-added service(s) within the context of the Insurance Act 2003 and the National Insurance Commission Act 1997.Consequently, the rules contained hereunder shall guide the operation of Oil and Gas insurance business in Nigeria.

 

Tags: Local Content  Oil&gas  Insurance 

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