Efekoha The Chairman of the Nigerian Insurers Association (NIA), Mr. Eddie Efekoha in this Interview with Favour Nnabugwu in Abuja, talks about the problem of one price fits it all, the position of NIA on risk based capital and the plan to move the industry forward. Excerpts What do you […]
Insurance
NAICOM underscores benefits of relocating Inspectorate Department to Lagos
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) said it relocated Inspectorate Department from Abuja Head Office to Lagos Control Centre to effectively monitor Insurance firms clustered in the area and to save cost. It was also gathered that the decision to relocated the department […]
Insecurity: Insurance Firms Impose N2.3trn Premium On Nigeria-bound Ships
BABALOLA YUSUF, ZAKA KHALIQ Foreign and local ship owners as well as charterers entering Nigeria’s territorial and coastal waters are paying a whopping N2.3 trillion every year to foreign insurance companies to insure their ships against any attacks, LEADERSHIP has exclusively gathered. Findings revealed that each of the 5,000 vessels […]
Trov, the world’s first on-demand insurance for single items, launches in the UK
/PRNewswire/ — Trov (www.trov.com), the company reinventing insurance for the mobile generation, today launches its world leading on-demand insurance platform in the UK, in partnership with AXA Insurance (www.axa.co.uk). For the first time, people in the UK can easily insure just the things they care about, entirely from the convenience […]
UK raises insurance premium tax to 12 pct
Britain will raise insurance premium tax by two percentage points to 12 percent from June 2017, finance minister Philip Hammond said on Wednesday in his first Autumn Statement address to Parliament. The move represents a doubling in the tax rate on home and motor insurance premiums within the past two […]
Kanye West Allegedly Getting $30 Million Insurance Payout For Being In Hospital
Kanye West might be getting a $30 million payout from an insurance policy which covers him, the Daily Mail is reporting. The rapper allegedly took out a big money insurance policy in case an illness or an accident forced him to cancel an event or performance. The insurance policy is […]
World’s largest insurer Allianz opens Kenya office
Cabinet Secretary, The National Treasury Hon. Henry Rotich with Allianz Kenya CEO, DembaSy officially open the Allianz new premises, Allianz Plaza, where the company will be conducting its business operations. Global insurance leader Allianz has opened its fifteenth Africa office in Kenya. The insurer, which has been setting up operations […]
Police Need N20bn to clear 3,000 late officials’ claims
The Nigerian police say it needs over 20 billion Naira to cover the insurance claims of over 3,000 police officers who died in active service. The force insurance officer, Mr Isyaiku Mohammed, gave the figure when he appeared before the ad-hoc Committee of the House of Representatives investigating alleged illegalities […]
NAICOM disowns BPE insurance transactions
By Clement Nwoji The National Insurance Commission (NAICOM), the industry regulator, dissociates self from any complicity with the Bureau of Public Enterprises (BPE), which is currently facing investigations over shady insurance transactions by it. BPE is responsible for implementing the Federal Government’s policy on privatisation and commercialisation. But the agency […]
Insurance industry rate template underway
Efekoha …As market-conduct guideline in the pipeline Leave a comment and share Chuks Udo Okonta Against the backdrop of inappropriate pricing coupled with desperation for big risks, a rate template for insurance companies and brokers to work with is underway, according to the Nigerian Insurers Association (NIA), NIA chairman, Eddie […]
