A former insurance agent from Essex County was sentenced to six years in state prison on Wednesday for filing hundreds of phony life insurance applications to score commission fees. Authorities say Stanley Jerome, 33, pulled in commissions and bonuses totaling $1,132,675 in the scheme, which included paying low-income people for […]
Insurance
Mobile Phones to modernise insurance sector
Mthulisi Sibanda — MOBILIFE, the new financial services provider, has officially entered the insurance space with a number of innovations it hopes will transform the industry. The company has launched FoodSurance, said to be the first life cover in Africa that will pay out a weekly grocery voucher to families […]
Inspenonline unveils nominees for 2015 insurance, pension awards
The management of Inspenonline, Nigeria’s premier Insurance and Pension online news channel, has unveiled the nominees for 2015 Nigerian Insurance and pension awards. A statement by the Publisher/Editor-in-Chief, Chuks Udo Okonta, said 18 firms drawn from the insurance and pension sectors have been selected for various categories and will be […]
Pension Insurance Corp completes $1.3 bln pension deal for Aon
British specialist insurer Pension Insurance Corp (PIC) has completed a 900 million pound ($1.30 billion) pension buy-in deal for insurance broker Aon, it said on Thursday. In a buy-in, the insurer takes on a portion of the risk of a defined benefit, or final salary, pension scheme. China’s Legend Holdings […]
UK plans new insurance laws to help driverless cars onto the road
Reuters Britain announced plans Wednesday for new motor insurance laws designed to encourage investment in driverless cars, as the government looks to capture a leading role in the nascent industry. The market for autonomous driving is worth 900 billion pounds ($1.29 trillion) worldwide, according to the government, but needs to […]
ILAN boss to pursue four key goals
Opara been decorated with the chain of office Leave a comment and share Chuks Udo Okonta The President Institute of Loss Adjusters of Nigeria (ILAN) Ralph Opara, has identified training of loss adjusters; establishment of the institute by an Act of the National Assembly; improving on the relationship with other […]
China’s first hospital founded by insurance company opens
China’s first hospital founded by an insurance firm, in cooperation with local government, opened on Sunday, creating a new model for health care. Approved by the China Insurance Regulatory Commission, the Sunshine Union Hospital opened in Weifang City in east China’s Shandong Province. The Sunshine Insurance Group invested 3 billion […]
Govt mulls pilot insurance policies to cover natural disasters
China plans to launch pilot insurance policies that will cover natural disasters and establish an insurance system for catastrophes, according to a work plan jointly released by China Insurance Regulation Commission and Ministry of Finance on Tuesday. By the end of 2017, rules on earthquake insurance and an insurance fund […]
ILAN holds investiture for 10th president
Leave a comment and share Chuks Udo okonta The Governing Council of the Institute of Loss Adjusters of Nigeria (ILAN) said it has concluded plans for the formal investiture of its 10th President Ralph N. Opara. According to the Chairman, Organising Committee and Vice President of the Institute, Femi Hassan, […]
Smart cars: how technology is putting the brakes on insurance premiums
Fully automated vehicles are only five to 15 years from being introduced, but the public and regulators are nervous. Photograph: Eric Risberg/Associated Press Many drivers looked at their car insurance with an air of resignation last year. After years of declines, the average premium was on the way back up, […]
