By Anoop Khanna Several heads of the UK insurance industry have formed a steering committee to work with government-backed terrorism reinsurance fund Pool Re to develop a pandemic cover. According to a news report by Reuters, the steering group, which is chaired by Convex group chief executive officer Stephen Catlin, […]
Author: admin
AM Best maintains French non-life insurance market outlook at stable
AM Best is maintaining its market segment outlook on the French non-life insurance market at stable. Key supporting factors include the sector’s resilient underwriting performance against a backdrop of significant competition, modest but regular price increases in core classes of business and good diversification by class of business. A new […]
COVID-19 Palliatives: Leadway Assurance gives back to Motor insurance clients
Tunde Hassan-Odukale Leave a comment and share Chuks Udo Okonta As we continue with lockdown due to the need to “flatten the curve” on the Coronavirus pandemic which has impacted heavily on social life, businesses and recreation across the world, one of Nigeria’s leading insurers, Leadway Assurance Company Limited has […]
COVID-19: How insurance brokers, agents are coping amid lockdown
Leave a comment and share Chuks Udo Okonta Insurance brokers and agents are frontline practitioners in the insurance business value chain, contributing about 80 per cent of the industry’s yearly gross premium income. The outbreak of the coronavirus (COVID-19) pandemic which has led to lockdown of economic activities almost across […]
Insurer to give additional benefits for COVID-19 claims
By Jimmy John Tata AIA, a private life insurer in India, has announced additional benefits to its individual policyholders and its agents for COVID-19. All individual policyholders of the company will get additional benefit equal to the base sum assured or INR 500,000 ($6,500) whichever is lower for valid death […]
Ireland finance minister calls for motor insurance refunds due to lockdown
By Ahmad Zaki In another chapter of the ongoing clash between insurers, governments and consumers, Ireland’s minister for finance Paschal Donohoe has advised insurers to offer refunds to motorists as traffic has all but halted during the coronavirus crisis at a time when profits are high. At a virtual meeting […]
UK:Non-life insurers face dim prospects amidst pandemic-induced economic slowdown
By Ranamita Chakraborty The outlook for the UK non-life insurance market at negative according to AM Best, due to factors such as an expectation of lower premium volumes due to the economic slowdown driven by the coronavirus pandemic as well as persistent pressure on underwriting performance from strong competition and […]
India:IRDAI directs settlement of COVID-19 insurance claims within two hours
By Anoop Khanna India Insurance Regulatory and Development Authority of India (IRDAI) has issued fresh guidelines and also new timelines for all general and standalone health insurance companies for settlement of all COVID-19-related health insurance claims A circular issued by IRDAI member (non-life) TL Alamelu on 18 April 2020 said, […]
Ecobank Group contributes about $3m to support fight against COVID-19
Leave a comment and share Chuks Udo Okonta Ecobank Group, the Pan African Bank, has contributed about US$3 million to the fight against COVID-19 across its footprint in Africa. In line with its commitment to the continent, various contributions were made to support the efforts of governments, the World Health […]
It’s a pity Abba Kyari died!
Late Kyari Tope Adaramola The news of the demise of the Chief of Staff to President Mohammadu Buhari, Mallam Abba Kyari hit the airwaves and was received with sadness by many Nigerians who were presently under the lockdown of the endemic coronavirus. The death of the political strongman, occasioned by […]
