Joel Guy Jr A Tennessee man will likely spend the rest of his life in prison after being convicted of killing his parents over Thanksgiving weekend in 2016 and disposing of their bodies. Joel Guy Jr., 32, was found guilty Friday in Knox County of two counts of premeditated first-degree […]
Insurance
Third of Kenya’s insurance firms fail capital test
Commissioner of Insuarance Godfrey Kiptum. Firms have up to December to comply. FILE PHOTO | NMG A third of insurance companies in Kenya failed to comply with capital requirements introduced in July prompting the regulator to extend the deadline by six months. Twenty insurance companies or 35 percent of 56 […]
Swiss Re: Insurance industry can’t foot the bill for COVID-19 damages
By David Whitehouse The costs of global pandemics such as COVID-19 exceed the capacity of the global insurance industry, making them effectively “uninsurable risks”, Beat Strebel, Swiss Re’s head of Middle East and Africa, tells The Africa Report. Swiss Re has “no appetite” to insure or reinsure against pandemics, said […]
Africa Re joins DIFC to tap fast growing Gulf Islamic insurance market
Nigeria-based Africa Reinsurance Corporation has joined the Dubai International Financial Centre (DIFC) and will operate as ‘Africa Re Underwriting Agency Ltd (Africa Re).’ Image Credit: Nigeria-based Africa Reinsurance Corporation has joined the Dubai International Financial Centre (DIFC) and will operate as ‘Africa Re Underwriting Agency Ltd (Africa Re).’ The company […]
Insurance industry digital platform to expose claims defaulters
From left: Deputy Commissioner, Technical, NAICOM, Sabiu Bello Abubakar; Director, Research, Statistics and Publications, Alhaji Adamu Balanti and Head, Corporate Communications & Market Development, Rasaaq Salami at the event. Leave a comment and share Chuks Udo Okonta The anticipated insurance industry digital platform anchored by the National Insurance Commission (NAICOM) […]
Ethiopian Air unveils COVID-19 insurance cover
Ethiopian Airlines (Ethiopian) has announced that it will cover the medical insurance including repatriation, evacuation and quarantine costs related to COVID-19 from 1 October 2020 to 31 March 2021. The coverage is applicable to all Ethiopian’s international flights booked with the airline’s tickets. The global cover, Sheba Comfort, was introduced […]
NAICOM ‘ll not fail Nigerians – Thomas
Thomas Leave a comment and share Chuks Udo Okonta The leadership of National Insurance Commission (NAICOM) will not fall President Muhammadu Buhari and Nigerians, the Commissioner for Insurance, Sunday Thomas, has said. Thomas said this at the just concluded 2020 NAICOM Seminar for Insurance Journalists, at Uyo, Akwa Ibom State. […]
NAICOM prepares insurers for takeoff of digital portal
From left: Deputy Commissioner, Technical, NAICM, Sabiu Bello Abubakar; Director, Research, Statistics and Publications, Alhaji Adamu Balanti and Head, Corporate Communications & Market Development, Rasaaq Salami at the event. Leave a comment and share Chuks Udo Okonta Determined to elevate the nation’s insurance sector to a globally compliant entity, the […]
NAICOM to unveil IT guidelines for insurance sector
Thomas Leave a comment and share Chuks Udo Okonta Information Technology (IT) guidelines that would revolutionised insurance operations would be unveiled very soon, the Commissioner for Insurance, Sunday Thomas, has said. Thomas disclosed this yesterday at the dinner of 2020 Seminar for Insurance Journalists, holding at Uyo, Akwa Ibom State, […]
Motorists to pay Sh3,000 via insurance for road damages
Motorists will pay up to Sh3,000 through their annual car insurance to cover for damages of road assets if amendments to law are adopted. The Kenya Roads Board (KRB) is seeking to set aside between Sh500 and Sh3,000 from the annual third party covers to be spent on replacement of […]
