Experts are predicting that, regardless of the challenges in the country, the industry will be growing faster. A recent analysis has been published by KPMG and has predicted that the insurance market in Nigeria will see its growth picking up speed despite some of the challenges it has been facing […]
Insurance
Insurance buyers to use NIN from Sept 1
Leave a comment Chuks Udo Okonta From September 1, this year, the National Identification Number (NIN) would be use in the purchase of insurance policies, Inspen has learnt. The General Manager Legal Services, National Identity Management Commission (NIMC), Mrs Hadiza Dagabana, disclosed this on Saturday, while making some clarifications on […]
Shriram Capital Weighs Sanlam’s Interest in Insurance Business
CHENNAI: Financial services firm Shriram Capital Ltd (SCL) on Tuesday said its South African partner Sanlam’s decision to invest directly in the former’s insurance business will be finalised by April. Currently, Sanlam holds 26 per cent stake in the Rs 70,000-crore SCL, the holding company of Shriram Life Insurance and […]
Woman pleads guilty to burning O.C. homes, cars for insurance money
SANTA ANA – A 41-year-old woman pleaded guilty Wednesday to setting her Orange County homes and car on fire to reap hefty insurance payments. Andrea Michelle Robinson also admitted welfare fraud while not disclosing her income from insurance claims. She was scheduled to be sentenced Jan. 21 for her guilty […]
New York Insurance Agent Couple Charged With Defrauding Clients
New York authorities announced that a Rochester, New York, couple has been charged with defrauding their Rochester insurance agency clients. Gary Gubiotti and Bonnie Gubiotti, both 67, are accused of stealing more than $150,000 from clients by falsely inflating insurance premiums, failing to remit refunds, and forging finance agreements from […]
Insurance mixup leaves retirees without coverage
By Susan Sherring City retirees are crying foul after an insurance switch to a new company has left them in the lurch — some even without coverage. And the seniors are now being forced to pay for prescriptions and hospital services out of their own pockets on their reduced income. […]
Will insurers committee do the magic?
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 […]
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 […]
