Kari IR: Cleaning the Augean stable in any society, sector, domain or country is an arduous task. This is so, because in most cases, corruption usually fights back and when it fights back, it fights vigorously in a bloody manner such that the reputation and good name of whoever is […]
Insurance
NIA engages foreign firm to review annuity business
Efekoha Leave a comment and share Chuks Udo The Nigerian Insurers Association (NIA) has concluded plans to engage a South African based Actuarial firm to help review annuity business and align it with current global market practices. Its Chairman, Eddie Efekoha, who disclosed this at a media parley in Lagos, […]
Insurers assess Chapecoense air tragedy
By Raul Zorrilla The players of Brazilian soccer team Chapecoense who died in a tragic plane crash in Colombia Tuesday are covered by at least two life and accident insurance policies, one purchased by the Brazilian football federation CBF and one bought by Lamia, the company that owns the plane. […]
Brokers, agents get N44.16bn insurance commission
Chairman NIA, Eddie Efekoha Leave a comment and share Chuks Udo Okonta Insurance brokers and agents received N44.16 billion commission from underwriters in 2014, Inspen reports. The amount was stated in the Nigeria Insurance Digest 2014, published by the Nigerian Insurers Association (NIA). According to the digest, Non life operators […]
CPC to act against fake insurance policies, consumer complaints
The Consumer Protection Council (CPC), has concluded plans to address insurance products and services complains particularly, the sale of fake policies and delay in payment of claims, among others in the country. To this end, CPC is collaborating with key stakeholders in the insurance sector to proffer solutions to the […]
NIA faults Reps over N200bn insurance fraud
From left: Director Technical, Legal and Admin, Nigerian Insurers Association, Mrs Olawunmi Idewu, Chairman, Eddie Efekoha and Director-General, Sunday Thomas at the event. Leave a comment and share Chuks Udo Okonta Having been silent since the Ad-hoc Committee of the Federal House of Representatives started the probe on government’s insurance […]
NAICOM’s staff resume work, as NIA supports relocation of inspectorate unit
Leave a comment and share Chuks Udo Okonta Aggrieved staff of the National Insurance Commission (NAICOM) who embarked on strike over the relocation of the commission’s Inspectorate Department from Abuja Head Office to Lagos Control Centre, today resumed work in line with the directive given by the Federal Ministry of […]
Nigerian insurance industry capital is highest in Africa
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 […]
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 […]
