Leave a comment and share Chuks Udo Okonta Many insurance companies have retained their employees and continued to pay their full salaries, in spite the challenge posed by the COVID-19 pandemic, Inspenonline can report. This is even as many blue chip companies in other sectors of the economy have slashed […]
Insurance
Life and non-life insurers see different impacts from COVID-19 uncertainty
By Ranamita Chakraborty The main impact of the coronavirus outbreak in 1Q2020 on South Korean insurers probably came from heightened financial market uncertainty rather than the resultant business disruptions – suggested financial results announced by the top 10 local life and non-life insurers. According to an article from credit rating […]
AXA ordered to pay coronavirus-related BI losses
By Ahmad Zaki A Paris court has ruled that AXA must pay a restaurant’s coronavirus-related claims, amounting to two months’ worth of revenue losses. This ruling potentially paves the way for similar litigation from other policyholders. AXA has said that it will appeal the ruling, which will be of interest […]
Majority of large insurance companies could increase IT budget
By Vincent Liu Liang ZhongAn Fintech Research Institute has published a report that analyses the experience of domestic and foreign insurance companies dealing with the pandemic and put forward suggestions for the development of the industry in the post-pandemic era. Due to social distancing during the pandemic, most insurance companies […]
African Alliance: Relentless at 60
The place of African Alliance as a foremost life insurer in the comity of insurers in Nigeria is assured. Incorporated on the 6th of May, 1960, the Company was founded by the inimitable duo, Chief S.L Edu (CON) and Mr Talabi Braithwaite (CON), widely regarded as the first Chartered Insurance […]
Nigerians spend N47.67bn to insure their lives
Leave a comment and share Chuks Udo Okonta About N47.67 billion was spent in 2018 on life insurance cover by people living in Nigeria, Inspenonline has learnt. Data obtained from the Nigerian Insurers Association (NIA) published Nigeria Insurance Digest 2018 revealed that N47.347 billion was spent on buying group life […]
UK:Rejected pay-outs could lead to lawsuit against insurers
By Ranamita Chakraborty After failing to secure pay-outs for disruption caused by COVID-19, hospitality sector action group HIGA plans to launch legal action against insurance giants Aviva and QBE in the UK. According to a report from national news agency PA Media, HIGA and law firm Mishcon de Reya, said […]
Journalists get free COVID-19 cover
By Jimmy John The Nepal Press Union (NPU) has entered into an agreement with private insurer IME General for free COVID-19 insurance cover to journalists of Sunsari district in the country. Under the scheme, 150 journalists will be insured free of charge for an amount of NPR100,000 ($821) each, as […]
US insurer donates $1m to COVID-19 relief
By Amir Sadiq Philadelphia Insurance Companies (PHLY) has pledged $1m to organisations and community relief funds leading response and recovery efforts for those affected by the coronavirus pandemic. The contribution will go to organisations across the country addressing food and economic insecurity and those delivering critical medical and social services. […]
British insurance giant projects $195m in COVID-19 claims for GI business
By Ranamita Chakraborty Aviva estimates that its non-life COVID-19 related claims would amount to GBP160m ($195m) net of reinsurance, based on analysis as at 30 April. Most of the claims are expected to be in business interruption and travel insurance, and allows for favourable impacts in other product lines. According […]
