Standard Alliance demands N10bn compensation for expulsion from NIA

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Standard Alliance demands N10bn compensation for expulsion from NIA

Standard Alliance Insurance
Standard Alliance Insurance

By Rosemary Iwunze

The management of Standard Alliance Insurance Plc has demanded N10 billion as damages for loss of reputation resulting from its expulsion from the Nigerian Insurers Association (NIA).

The management of the company accused the NIA of denying it the right to fair hearing before proceeding to publish its expulsion and demanded that the association should immediately withdraw the letter of suspension, termination and expulsion not exceeding seven clear days and pay N10 billion as damages for loss of reputation resulting from the malicious publication.

The underwriting firm made the demand in a letter entitled: RE: Purported Expulsion of Standard Alliance Insurance PLC From the Membership of Nigerian Insurers Association, dated Monday, July 5, 2021, signed by its lawyer, Ebun-Olu Adegboruwa (SAN) and addressed to the Director-General of NIA, Mrs Yetunde Ilori.

The solicitor alleged a circumvention of his client’s right to fair hearing as guaranteed…



Source: Vanguard Newspaper