Extra contributions are likely to cost many university staff more than £1,000 a year, analysis shows By Jack Grove Thousands of university staff will soon see their take-home pay fall by about £100 a month when changes to state and occupational pension schemes take effect, an analysis has shown. Almost […]
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Beauty Queen plans big for insurance
Miss Insurance 2016 winner Adaeze Okeke on Wednesday pledged that she would persuade Nigeria’s 170 million population to take up insurance policies before the end of this year. Okeke made the pledge on Wednesday when she paid a courtesy visit to Linkage Assurance Plc at Lekki, Lagos. She said that […]
Reps to probe organisations over non-remittance of pensions
Dogara Organizations who do not remit their staff’s pension contributions to Pension Fund Administrators (PFAs) are to face probe by the House of Representatives, the legislative body said on Tuesday, February 16. Nigerian pension scheme has been fraught with complaints by employees about illegal action of non-remittance of their contribution […]
Pension operator accuses insurance agents of mis-selling
Leave a comment and share Chuks Udo Okonta Underwriting companies have been urged to clean up the insurance agency system to stem the unethical practices being perpetuated by some of their agents. A Pension Fund Administrator (PFA) disclosed this in an interview with Inspen, stressing that the unhealthy marketing in […]
Kenya lacks talent in insurance industry – EY report
By RICHARD MUNGA A large number of Kenyan insurance agents and marketers are unqualified holding back growth opportunities for the local insurance industry, according to EY’s study on insurance opportunities in sub-Saharan Africa. The report states the agents and marketers lack specialisation and sophistication in insurance products, leaving insurers to […]
Namfisa investigates Lewis for selling insurance
The Namibia Financial Institutions Supervisory Authority (Namfisa) says it is aware of complaints against South African furniture franchise, Lewis. Lewis has been accused of acting as an intermediary for products regulated by the Long-Term Insurance Act, while it is not registered under the Act to do so. Namfisa says investigations […]
Report ranks Kenya high as potential market for insurers
Kenya’s positive growth, rising consumer demand, population and new technology make it attractive for African insurance companies outside South Africa. This was revealed in a report launched yesterday by consultancy firm Ernst & Young (EY). The report titled Waves of Change: Insurance opportunities in Sub-Saharan Africa compares insurance markets in […]
Now that NAICOM, insurers are one
Members of the committee The inauguration of the Insurers’ Committee has brought the National Insurance Commission (NAICOM) and insurance operators on the same page to pave way for issues in the industry to be fully deliberated before implementation. Chuks Udo Okonta in this report examines the benefits of the union […]
A Canadian corporation is busting insurance fraud with social media
The Insurance Corporation of British Columbia (ICBC) is making extensive use of social media to find people who have made fraudulent insurance claims. Last month, Digital Journal reported the ICBC’s top insurance frauds of 2015 or its 2015 Hall of Shame. These consisted of false or exaggerated claims as well […]
Universal Insurance to host brokers
Okunoren Universal Insurance Plc is to host Insurance Brokers under the aegis of the Nigerian Council of Registered Insurance Brokers (NCRIB) on Tuesday, February 23, 2016 in Lagos. According to a release issued by the Public Relations and Communication Department of the NCRIB, Universal Insurance Plc would reap tremendous gains […]
