Insurers want to change President Barack Obama’s health care law to provide financial assistance for people buying bare-bones coverage. That would entice the healthy and the young, the industry says, holding down premiums. So-called catastrophic plans are currently not eligible for the law’s subsidies, and only 2 percent of the […]
Insurance
NIID: NIA loses about N82.44m to fake insurance
Leave a comment and share Chuks Udo Okonta The Nigerian Insurers Association (NIA) in 2015 made N20.61 million from the Nigerian Insurance Industry Database (NIID), an indication that about N82.44 million was loss as a result of the 12 million uninsured vehicles on the nation’s roads. The NIA in its […]
Insurance Institute eyes global partnerships to boost human resource dev’t
The Institute plans to sign partnership agreements with the national Insurance Institute of India. IIU’s Chairman governing council Ronald Zaake (Right) talks to Mark Twinamukye and Michael Bartlett of Bartlett Africa Ltd as IIU’s Chief Executive Officer Elvis Khisa (Left) looks on.(Picture by Benjamin Ssebaggala) The Insurance Institute of Uganda […]
Insurance Bureau of Canada to release insured damage totals from Alberta fires
The devastated neighbourhood of Timberlea in Fort McMurray Alta. is shown on Wednesday June 1, 2016. (THE CANADIAN PRESS/Jason Franson) The Insurance Bureau of Canada is to announce later today its estimate of total insured damage caused by the wildfires in Fort McMurray, Alta. The fires in May forced the […]
Insurance company fraudster sentenced
An insurance company manager who stole more than £5,000 from his employers has been ordered to carry out 160 hours of unpaid work. A court was told Malcolm Gillies diverted money from customer repayments into his own bank account while working for Aviva. The 35-year-old from Perth was sacked for […]
Infiniti Insurance pioneers online platform
/ MEDIA STATEMENT / Short term insurer, Infiniti Insurance has announced the launch of the pioneering Infiniti Online – a secure online insurance platform, offering clients the autonomy to manage their personal and business insurance requirements however and whenever they choose. “We developed this online platform to offer new customers […]
As microinsurance penetrates Africa reinsurance capacity need will grow
Parametric or weather-index insurance cover through microinsurance schemes continues to expand its reach across Africa, a trend that could result in greater demand and utilisation of reinsurance and insurance-linked securities (ILS) capacity. During 2014 total identified microinsurance written premiums across Africa increased to $756 million, from $387 million in 2011, […]
CIIN to form insurance clubs in schools
Leave a comment and share Chuks Udo Okonta The Chartered Insurance Institute of Nigeria (CIIN) in a bid to strengthen insurance awareness plans to form insurance clubs in secondary schools. The Managing Director, LAKEG Nigeria Limited, Muftau Oyegunle, said this in Lagos, adding that the initiative is part of the […]
Insurers task NAICOM to create specific help desks
Leave a comment and share Chuks Udo Okonta Insurance operators have called on the National Insurance Commission (NAICOM) to provide specific help desks that would help resolve issues relating to financial reporting. The Chairman Risk Management and Compliance Committee of the Nigerian Insurers Association (NIA), David Igiehon, said this in […]
Policy on rail insurance on the way – NIA
Leave a comment and share Chuks Udo Okonta The Motor Technical Committee of the Nigerian Insurers Association (NIA) is presently working on a draft policy on rail insurance to take advantage of opportunities that would accrue from rail transportation. The Chairman of the committee, Mrs Omolara Posi-Adedayo, disclosed this in […]
