COMPLIANCE CODE
At NSIA Insurance, we ensure that the Company strictly conducts its business in full compliance with all applicable laws, regulations, standards, and internal policies and that all employees, branches, agents, and third parties act in accordance with the Company’s legal and regulatory obligations.
NSIA Insurance is committed to fostering a culture of compliance that permeates the entire organization. Compliance is not solely the responsibility of the Compliance Department; rather, it is an enterprise-wide obligation. NSIA demonstrates its commitment through:
- Clear communication of the Company’s ethical standards and regulatory obligations.
- Active oversight of compliance functions and the enforcement of compliance policies.
- Allocation of adequate resources and authority to the Compliance Department.
- Support for timely reporting and escalation of compliance breaches without fear of retaliation.
The Company’s compliance culture is buttressed by the following principles:
- Integrity – All personnel are expected to act honestly and in accordance with laws and ethical standards .
- Transparency – Compliance matters, risks, and breaches are reported promptly and accurately.
- Accountability – Individuals and units are held accountable for their compliance obligations.
- Proactivity – Potential regulatory risks are identified and mitigated before they escalate into breaches.
- Independence – The Compliance unit operates without undue influence, ensuring impartial oversight and reporting.
To enforce a strong compliance culture, NSIA Insurance ensures certain measures are put in place which includes but not limited to; mandatory training programs for all staff members., recognize exemplary compliance conduct and appropriate disciplinary action for violations, periodic assessments of organizational culture through surveys, audits, and management reviews.
ETHICS CODE
NSIA Insurance, since its debut in the Nigerian Insurance Industry, has placed high premium on integrity, ethics and honesty in its service delivery and this is reflective in its core values.
This code incorporates our core values as an organization and the standards we expect from our Employees in our internal and external operations. Our Employees are the cornerstone of the successful implementation of our core values; hence, they are held to the highest standards to uphold the business culture of the organization.
NSIA Insurance’s reputation as a leading player in the Insurance Sector in Nigeria is notable with over 28 years of excellent service delivery to individuals and corporate entities. The organization’s antecedent as a reputable Insurance company with professional service delivery based on competence and integrity has led to the trust the public repose in us as a reliable and trust worthy partner in the insurance business.
At the core of NSIA Insurance values are Professionalism and Integrity. The organization aims to ensure service delivery is efficient whilst maintaining a high level of professional in accordance with best international practices. As part of our commitment to maintain professionalism, NSIA Insurance ensures all its dealings incorporate ethical considerations at every point in time.
Integrity is sacrosanct at NSIA Insurance, hence all employees are mandated to maintain this value and improve the strong reputation of the organization. As part of the measure to achieve this, we demand full compliance with this ethics code at all times by our employees. Employees are expected to deal with clients, regulators, colleagues and the general public with integrity always. This code also applies to members of the Board of Directors, Management Team, contract staff, agents and nominated representatives.
The organization and its employees also adhere strictly to Laws, Regulations and Guidelines, avoid conflict on interests, ensure confidentiality of personal data etc., in its transactions with clients.
