By Ricardo Alonso-Zaldivar The Associated Press WASHINGTON — The math is harsh: The federal penalty for having no health insurance is set to jump to $695, and the Obama administration is being urged to highlight that cold fact in its new pitch for health law sign-ups. That means the 2016 […]
Insurance
In China, an insurance policy for good Samaritans who get sued
By Jonathan Kaiman Imagine you see an elderly man fall on a crowded street. You want to help him up, but then reason gets the better of you: You’ve read reports about injured people extorting small fortunes in healthcare fees from helpful bystanders. You walk past the man, pretending that […]
Economic slowdown: Insurers worry as income from premiums nosedives
By Rosemary Onuoha Insurers are apprehensive that the industry will suffer significant drop in premium income this year owing to the slowdown in economic activities occasioned by the slide in crude oil prices and Naira depreciation. The growth of economic activities in the country, as measured by the growth rate […]
Fitch: Nigerian Insurance Fundamentals Intact despite Weakening Economy
Fitch Ratings says in a new report that the Nigerian insurance industry will continue to expand, despite recent economic headwinds and significant structural challenges. The industry has experienced declining growth rates in recent years, albeit from a high base. However, a number of leading insurers have maintained strong premium and […]
NAICOM tasks brokers on corruption, money laundering
Leave a comment Chuks Udo Okonta The National Insurance Commission (NAICOM) has urged insurance brokers to ensure their operations are not exploited as a vehicle for corruption and money laundering. The Commissioner for Insurance Mohammed Kari, who was represented by Deputy Commissioner Finance and Administration NAICOM, George Onekhena, said this […]
Ugandans told to embrace education insurance policies
UAP Life Assurance sales manager- Corporate Allan Lwanga cutting a cake with pupils of Mother Manjeeri primary school in Kirinya Bweyogerere while launching the UAP Somesa Plus. By Vision Reporter Ugandans have been advised to embrace education insurance policies being offered by different insurance companies in the country. Start the […]
AIG makes commercial insurance executive changes
American International Group Inc. has made several new appointments in its commercial insurance division. Madhu Tadikonda, the insurer’s former commercial chief science officer, will replace Tim Carter in the position of commercial chief underwriting officer, AIG said Thursday in a statement. In his new role, New York-based Mr. Tadikonda oversees […]
South Africa’s African Bank drops deal to buy insurance business from parent
Bailed-out South African lender African Bank said on Friday it would no longer buy an insurance business from its parent African Bank Investments Ltd (Abil), after a court order obtained by Abil shareholders delayed the deal. The deal had been announced in September as African Bank sought to assume control […]
ICBC looking into online car insurance renewals
How would you like to renew your car insurance on your laptop or smart phone? ICBC is working on a way to make that possible. Our American friends can use an app to renew insurance instead of having to head down to a broker’s office. ICBC wants to make this […]
