Jaiz Takaful has rolled out first-of-its-kind insurance products intended to share profits with participants/clients. Takaful is an Islamic insurance concept based on the Islamic principle of Taawun known as mutual benefits. Takaful subscribers have a bond among themselves as participants who agree to jointly indemnify the loss or damage that […]
Insurance
Sovereign Trust Insurance pays N1.07bn claims in Q3 2016
Soyinka Leave a comment and share Chuks Udo Okonta Sovereign Trust Insurance Plc, says it paid N1.07 billion claims in third quarter of 2016. Its Divisional Head, Technical, Tajudeen Rufai, who disclosed this in a statement, noted that the summary of the claims composition paid in the third quarter of […]
Insurers pay over N303.33m claims on bank fraud, armed robbery
Leave a comment and share Chuks Udo Okonta Insurance operators paid over N303.33 million claims to banks in the country for losses suffered due to fraud, armed robbery and burglary in 2014, Inspen can report. According to a report obtained from the Nigerian Insurers Association (NIA), insurers paid about N173.81 […]
NAICOM refutes restoring Glanvills Enthoven licences
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has said the operating licences of Glanvills Enthoven Nigeria (GEN) were not restored, as reported in some dailies, but the company was re-licensed after meeting re-registration stipulated criteria. A statement by Head, Corporate Affairs NAICOM, Rasaaq Salami, […]
Insurance industry experienced higher claims payment in 2016 – Efekoha
Chairman of the Nigerian Insurers Association, NIA, who is also the Managing Director of Consolidated Hallmark Insurance Plc, Mr. Eddie Efekoha in this interview said that the economic recession compelled the insurance sector to part with more claims in 2016 than the prior year. Excerpts: Efekoha By Rosemary Onuoha WHAT […]
NAICOM restores Glanvill Enthoven Licences
By Clement Nwoji The National Insurance Commission (NAICOM) has made a u-turn by reinstating the operating licences of Glanvill Enthoven Nigeria (GEN), a firm of incorporated insurance brokers. With this turnaround, the company is again authorised to operate general insurance, life & pensions business as well as reinsurance brokerage services […]
Insurance, pension record 5,000 complaints at CPC
By Favour Nnabugwu INSURANCE industry is continuing to struggle with adverse image as it recorded lowest customer complaints redress amongst other sectors in 2016 at the Consumer Protection Council, CPC. Insurance Consumers’ Association of Nigeria (INSCAN), a body established with the objective to protect the general interest of the insurance […]
Japanese insurance firm replaced 30 workers with IBM’s artificial intelligence technology
ibm watson Ben Hlder / Getty Images A future in which human workers are replaced by machines is about to become a reality at an insurance firm in Japan, where more than 30 employees are being laid off and replaced with an artificial intelligence system that can calculate payouts to […]
‘Trumpcare’ a mystery as insurance battle looms
By Kimberly Atkins REPEAL AND REPLACE? Vice President-elect Mike Pence, right, speaks to the media yesterday with Paul Ryan. WASHINGTON — Republicans and Democrats have honed their warring Obamacare messages, but there are few clues about what happens after the GOP-controlled Congress and President-elect Donald Trump follow through with their […]
Insurance companies urged to increase subscriber base
Aaron Anafure (2nd left) with Ms Lydia Bawa (middle) at the get-together CHARLES ANDOH The Commissioner of Insurance has urged insurance companies to put pragmatic measures in place to increase their subscriber base. Ms Lydia Lariba Bawa also urged them to do more to be able to reach out to […]
