Taking out life or funeral insurance on your spouse is often seen as a sinister move or the ‘elephant in the room’ among couples For this and other reasons, spouses tend to neglect this responsibility, exposing their families to unnecessary financial risk. Lee Bromfield, CEO of FNB Life, said this […]
Insurance
THE IMPACT OF A WEAK RAND ON INSURANCE BROKERAGE FEES
By: Trust Matsilele The weakening rand is hurting South Africa’s insurance industry and the short-term sector is the most affected, this is according to industry players. Those in the sector say insurance companies dealing with motor vehicles are feeling the impact especially in cases where car parts need to be […]
Ghana is one of most attractive African countries for insurance industry growth – EY study
Ghana is one of the African countries with the most attractive mix of risk and opportunities for the insurance industry, a survey of seven key markets in East and West Africa by EY (Ernst & Young) has found. The survey examined 125 insurance executives and regulators in the East African […]
Nigeria’s Economic Growth hinges on Insurance Development -Okunoren
“Strategies for reviving Nigeria’s economy would achieve desired result if greater premium is placed on the insurance industry’s growth by government.” This assertion was made by the President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Kayode Okunoren at the Council’s Secretariat in Lagos. According to him, aside from […]
AIG restructures but rejects Icahn breakup
Reuters American International Group said it would spin off its mortgage insurance unit and sell its broker-dealer network as part of the sweeping changes it has been promising shareholders as it fends off activist investor Carl Icahn. The insurer also said on Tuesday it would cut $1.6 billion of costs […]
Spain Court Finds Captain, British Insurer Liable For Prestige Oil Spill
Reversing an earlier court decision acquitting the captain Apostolos Mangouras, it sentenced him to two years in prison. (Representational Image) Madrid, Spain: Spain’s Supreme Court said today it had found the captain, the British insurer and the owner of the Prestige tanker that sank in 2002 liable for a devastating […]
Brokers decry inadequate insurance input in govt policies
Leave a comment Chuks Udo Okonta The Nigerian Council of Registered Insurance Brokers (NCRIB) has called on the Federal, State and Local Governments to solicit insurance input in their policies to forestall financial wastages. Its President Kayode Okunoren, who disclosed this in Lagos, said governments often bundle themselves with financial […]
One in five home insurance claims rejected
By Kevin Peachey Personal finance reporter More than one in five home insurance claims is unsuccessful owing, in part, to the complexity of policies. Confusion about what is covered by insurance policies is one of the reasons that policyholders fail to receive a payout. Wear and tear, as well as […]
NAICOM may reinstate 108 lapsed brokers’ licences
ZAKA KHALIQ (NEWSWATCH TIMES NEWSPAPER) The National Insurance Commission (NAICOM) may reinstate the lapsed licences of 108 insurance broking firms who were delisted in December 2015, Newswatch Times can reveal. Newswatch Times learnt that the regulator, after it listened to the plea of the broking fraternity, decided to temper justice […]
How tech is changing insurance in South Africa
The digital revolution promises to change the face of South Africa’s insurance market over the next few years, making the industry more convenient, and more personalised. Bryan McLachlan, CEO at Instant Life, said that as technologies such as the Internet of Things, wearable computing, big data, and cloud computing mature, […]
