If Republicans repeal the Obamacare individual mandate without a concrete replacement plan, we could see another year of big price increases and insurer withdrawals for open enrollment in 2018, according to a new report. “The greater the uncertainty, the higher the rates,” said Sabrina Corlette, a Georgetown University research professor […]
Insurance
218 families of fallen soldiers receive insurance cheques from FG
The Nigerian government has given insurance cheques to the families of soldiers and officers who died in the line of duty – The cheques were received by next of kin to the deceased military personnel – The federal government also promised that the welfare of all serving personnel with the […]
Firm to slash insurance premium with pay-as-you-drive software
Abiodun Atobatele, CEO., ATB Techsoft Solutions (left), with Oluwawemimo Adeniyi, Director, Small Mid-Market Solutions and Partners Group, Microsoft Nigeria, during the media launch of four unique solution offerings of ATB in Lagos. Leave a comment and share Chuks Udo Okonta The Nigerian insurance industry would soon witness a revolution as […]
Insurers committee holds first annual retreat
Leave a comment and share Chuks Udo Okonta The Insurers Committee under the leadership of National Insurance Commission (NAICOM) in line with efforts to chart way forward for Nigerian Insurance Industry, has scheduled to hold her 1st Annual Insurers’ Committee Retreat at the Park Inn by Radisson Hotel Abeokuta, Ogun […]
Insurance firms with dwindling capital may lose licence
Kari Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) hopes to implement the law against insurance firms that failed to meet statutory capital base, Inspen can report. It was gathered that the outcome of the proposed capital verification which is billed for the first quarter […]
60% of vehicles on Indian roads don’t have insurance
Nearly 60% of the vehicles plying on Indian roads are uninsured, most of them motorcycles and scooters. The data has been complied by General Insurance Council (GIC), which represents the country’s general insurers. In 2015-16, India had around 19 crore registered vehicles; of these, only 8.26 crore were insured, said […]
NAICOM to Probe Capital Base of Insurance Companies
• Moves to limit bogus mgt expenses James Emejo in Abuja The National Insurance Commission (NAICOM) said it would verify the capital resources of all insurance companies operating in the country during the first quarter of the year. It stated that the probe had become necessary in view of the […]
United General Insurance to Launch Pay-As-You-Drive
United General Insurance Company, an African insurer, will implement Inseego’s Ctrack telematics product for a new pay-how-you-drive insurance product. Ctrack uses on-board devices to gather and monitor data related to driver behavior including accidents, fuel consumption and mileage. The goal of the new product is to incent drivers to drive […]
Technology disrupting African insurance industry
Disruption, once a word used to describe bad behaviour has now been turned into a revolutionary means of changing the way business is being conducted today with advancement of technology and ability to use innovate new business models, writes Jaqueline Van Eeden, insurance head South Africa at Wipro. Insurance is […]
NAICOM unveils 9-point agenda for 2017
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) today unveiled nine-point agenda it considered as regulatory priorities for the Year 2017. The priorities were highlighted in a circular signed by the Management, entitled: Statement of NAICOM’s regulatory priorities for the Year 2017, with reference number, […]
