By Favour Nnabugwu The Minister of Finance, Mrs Kemi Adeosun, on Friday advised the National Insurance Commission (NAICOM) to rise up to its responsibilities and explore untapped potential. Adeosun made the call at a retreat marking the five years of NAICOM’s existence in Abuja. The minister, who was represented by […]
Insurance
‘Mis-selling rampant in the insurance sector’
: Insurance Ombudsman P.K. Vijayakumar said that mis-selling of policies to people, mostly uneducated and poor, is rampant in the insurance sector. Talking to the Hindu at his office, Mr. Vijayakumar identified attempts by insurance companies, mostly in the private sector, to deny death claims on flimsy grounds as another […]
Govt to tax insurance brokers’ commission
COMMISSION earned by insurance brokers from transactions with insurance and reinsurance companies will now be liable to taxation under the new budget. BY TATIRA ZWINOIRA The new tax requirement was announced by Finance minister Patrick Chinamasa during his presentation of his 2016 National Budget last Thursday. Speaking at a meeting […]
Insurance operators to be sanctioned by CIIN over exam infraction
Leave a comment Chuks Udo Okonta The hammer of the Chartered Insurance Institute of Nigeria (CIIN) will soon drop on insurance operators who have been found culpable of examination misconducts, Inspen can authoritatively report. It was gathered that the Governing Council of the Institute having examined the report presented by […]
CIIN holds 2015 Christmas carol on Dec.17
Chuks Udo Okonta The 2015 Christmas carol of the Chartered Insurance Institute of Nigeria (CIIN) will hold on Thursday, December 17, 2015, at the All Saints’ Anglican Church Montgomery Road, Yaba, Lagos and time 11:00am. The annual service of nine lessons for members of the institute, friends and associates is […]
STI’s MD Onaolapo bows out
After meritorious years of service culminating into 21 years, the amiable and indefatigable Managing Director/Chief Executive Officer of Sovereign Trust Insurance Plc, Mr. Wale Onaolapo finally takes a bow. An astute and thoroughbred Professionalin every sense of the word, Wale Onaolapo joined the company from inception in 1994 as an […]
FG to pay over N10bn premiums owed insurance companies
The Federal Government has promised to offset outstanding premiums owed the insurance industry as soon as the economic situation of the country improves. Cumulative premium on group life insurance owed the insurance industry by the Federal Government is said to be in excess of N10 billion. Minister of Finance, Mrs […]
CIIN donates insurance textbooks to Rivers, Imo States
Press release Insurance practitioners converged last Thursday at Golden Tulip Hotel, Port Harcourt, Rivers Statefor the 43rd edition of the CIIN Annual Education Seminar organized by the Chartered Insurance Institute of Nigeria (CIIN). The Seminar with the theme: “Synergizing Branch Operations and Insurance Awareness”, focused on the roles of Branch […]
Government’s funding of insurance is haphazard – NAICOM
Leave a comment Chuks Udo Okonta The National Insurance Commission (NAICOM) has alleged that government’s funding of insurance over the years have been haphazard, hence, canvassed a change of attitude to insurance. The Commissioner for Insurance Mohammed Kari, disclosed this at a forum in Abuja, stressing that there is low […]
Inauguration of insurers committee elicits reactions
Leave a comment Chuks Udo Okonta Stakeholders in the insurance industry have expressed concern over the formation of Insurers Committee saying it is a duplication of functions of existing bodies such as the Nigerian Insurers Association (NIA) and Insurance Industry Consultation Committee. Although the National Insurance Commission (NAICOM) has said […]
