Your insurer now has a deadline. Here is how to use it.

What changed

The Nigerian Insurance Industry Reform Act 2025 (NIIRA) replaced the Insurance Act 2003 and several older insurance laws. Of its many changes, three matter most to anyone making a claim:

• A shorter deadline. Claims the insurer accepts must now be paid within 60 days of notification, down from 90 days under the old rules.

• A price for delay. An insurer that misses the deadline faces a penalty, plus compound interest on the claim amount.

• A written answer. An insurer that refuses a claim must say so in writing.

NIIRA also set up a fund to protect policyholders, and it puts policyholders ahead of secured creditors if an insurer is wound up.

Where the fight will move

The 60-day clock is for claims the insurer has accepted. So expect the argument to shift to two questions: when was the insurer properly notified, and when did it accept the claim?

The easiest way for a slow insurer to stay off the clock is to keep asking for “one more document.” Each request pushes back the day the claim is accepted or refused.

Our view

The National Insurance Commission (NAICOM) should close that gap. A simple fix would be a published, standard list of documents for common claims: motor, fire, goods in transit, group life. Once a policyholder has supplied everything on the list, the insurer should have a fixed period to accept or refuse, and the 60-day clock should run either way. Any request outside the list should need a written reason.

Until that happens, your best protection is your own paperwork.

What to do when you claim

1. Notify in writing, straight away. Email the insurer, and your broker if you have one. Keep the delivery record. Your notification date is your starting line.

2. Ask for the full document list in your first message. Ask the insurer to confirm in writing everything it needs.

3. Send everything together and keep copies. Number the documents and list them in a covering email.

4. Log every request and reply. If the insurer drip-feeds requests, your log will show it.

5. Chase in writing at day 30 and day 50. Remind the insurer of the 60-day timeline.

6. Escalate if it slips. Complain to the insurer’s complaints unit, then to NAICOM. Interest for late payment is now part of what you can claim.

For businesses

• Review your policies at renewal, not after a loss. Know your notification deadlines and exclusions.

• Make one person responsible for insurance claims, with a file for each claim.

• If you use a broker, put their claims-handling duties in writing.