Leave a comment The inauguration of insurers committee by the National Insurance Commission (NAICOM) is the latest step taken to reposition insurance practice which over the years has been bedeviled with numerous challenges. Chuks Udo Okonta in this report examines the initiative and other sundry matters. Over the years, the […]
Insurance
NAICOM threatens to unveil underwriters’ misdeeds
Kari Leave a comment Chuks Udo Okonta The National Insurance Commission (NAICOM) has said it is considering the misdeeds of errant underwriters and that they would be made public very soon. The Commissioner for Insurance Mohammed Kari, disclosed this at a forum in Lagos, while reacting to allegations by shareholders […]
Poor NSE performance cuts insurers’ earnings
By LOLA OKULO POOR performance by the stock market has cut insurance companies’ investment earnings by nearly half, according to the latest industry report. The Insurance Regulatory Authority’s industry report for third quarter released on December 21 shows investment income for the industry dropped by 48.62 per cent to Sh12.77 […]
Storm Frank batters northern Britain, experts see costs rising
Torrential rain and gale force winds battered northern Britain on Wednesday, cutting power to thousands of homes and forcing some to evacuate flooded streets in the third major storm in a month. The Environment Agency said Britain had faced an extraordinary period of severe weather and flooding in December, with […]
Change: Insurers seek cover for govt’s assets
Ahmed Leave a comment Chuks Udo Okonta In line with the change mantra, insurance operators have called on government at all level to procure insurance cover for their assets as done in other climes. The Director-General Chartered Insurance Institute of Nigeria (CIIN) Kola Ahmed, said this in an interview with […]
Insured catastrophe losses down again to $27bn in 2015: Munich Re
Losses from natural catastrophes in 2015 resulted in just $27 billion of impact to the insurance and reinsurance industry, according to Munich Re, lower than the figure seen in 2014 and the lowest since 2009. Global reinsurance firm Munich Re noted this morning that the re/insurance sector will find no […]
Shareholders slam insurance companies’ managers on dividend blackout
Shareholders ZAKA KHALIQ (NEWSWATCH TIMES NEWSPAPER) The shareholders of insurance stocks in the country are angry with the management of underwriting firms for their failure to declare dividend in the 2014 financial year, as most of the insurers are yet to declare dividend in the last four years, Newswatch Times […]
‘FG owes armed forces insurers 2013 premium’
The Federal Government is owing insurers and brokers’ premiums for 2013 Group Life Insurance Policy (GLIP) of the Armed Forces, Defence Spokesman, Colonel Rabe Abubakar, has said. Abubakar, who made this known in an interview, however, said efforts were on to ensure that the premium was paid to the brokers […]
SASSA restricts insurance deductions on social grants
JOHANNESBURG – South African Social Security Agency (SASSA) is tightening the screws and reviewing its policy regarding funeral policy deductions on child support grants. The social grants agency says its research has shown that such deductions may not be in the best interest of the child. SASSA says as from […]
Obamacare Insurers Sweeten Plans With Free Doctor Visits
Health insurers in several big cities will take some pain out of doctor visits in 2016. The plans will offer free visits to primary care doctors in their networks. You read that right. Doctor visits without copays. Or coinsurance. And no expensive deductible to pay off first either. In Atlanta, […]
