Insurance Claims Africa (ICA), a specialist public loss adjustment firm, has expressed its disappointment at insurer Santam’s decision to outright reject a settlement proposal from hundreds of tourism and hospitality businesses. These businesses had purchased BI policies that included extensions for claims arising from infectious or contagious notifiable diseases from […]
Insurance
Barbers to get COVID-19 cover as business resumes
By Jimmy John Grooming brand Gillette will provide an insurance cover of up to INR100,000 ($1323) for 50,000 barbers as they return to business from the COVID-19 lockdown. Given the nature of their work, the barber community is at a high risk of COVID-19 and so Gillette has announced the […]
Insurance sector generates N490bn business in 2019
Smart Leave a comment and share Chuks Udo Okonta The Nigerian Insurers Association (NIA) has said the volume of business written by the insurance sector grew from N413.8 billion in 2018 to about N490 billion in 2019, representing an increase of 15.55 per cent over 2018 figure. The outgoing Chairman […]
ARIAN to hire female customer service officer, I.T expert
Leave a comment and share *JOB VACANCY* *A Female Customers Service Officer/ I.T expert are Urgently Wanted* Location: Lagos State. The Association of Registered Insurance Agents of Nigeria, National Secretariat, Lagos State, Nigeria is presently looking for a *female* extremely bright and capable customers service officer/I.T researcher to work as […]
Munich Re slashes profit guidance amidst economic uncertainty
By Ranamita Chakraborty As a result of losses and high levels of uncertainty regarding the further economic and financial impact of the COVID-19 pandemic, Munich Re has announced that it will not meet its profit guidance of EUR2.8bn ($3.1bn) for the whole of 2020. The major global reinsurer will not […]
Claims are likely to be around $70bn and manageable
By Anoop Khanna Investment bank Berenberg analysts have said that as per their analysis global claims for the insurance and reinsurance industry due to the COVID-19 pandemic are expected to be in a range of $50bn to $70bn and will be manageable. According to a report on www.artemis.bm , Berenberg […]
COVID-19: Brokers donate 1,000 face masks to LASTMA
Lagos State Commissioner for Transportation, Dr. Frederic Oladeinde (middle), flanked by the Special Adviser to Governor Babajide Sanwo-Olu on Transportation, Hon. Oluwatoyin Fayinka (2ndleft), Deputy President, Nigerian Council of Registered Insurance Brokers (NCRIB), Barrister Rotimi Edu, mni (left) and LASTMA Director of Welfare Matters, Mrs. Aderonke Ojeniyi at the donation […]
CII shows how pandemic impacted finance professionals
By Ranamita Chakraborty A discount scheme by the Chartered Insurance Institute (CII), a UK-based global professional insurance body, has revealed the real financial impact that COVID-19 has had on members of the insurance and personal finance profession. Under the scheme which was announced on 1 May, CII is offering a […]
Sovereign Trust Insurance posts N10.8bn gross premium written in 2019
Soyinka Leave a comment and share Chuks Udo Okonta Sovereign Trust Insurance Plc said its Gross Premium Written in 2019 stood at N10.8billion compared to the N10.5billion written in 2018, representing a minimal 3.4 per cent increase. A statement by the firm’s Brand, Media and Communications Manager, Bankole Banjo, said […]
China to include COVID-19 testing in medical insurance
China will include nucleic acid testing and antibody testing for COVID-19 and related consumables in provincial medical insurance catalogues, according to the National Healthcare Security Administration. The move is designed to reduce testing cost to facilitate regular epidemic control and resumption of work, production, school and business operation, according to […]
