25.3 C
Lagos, South Africa and New York
Monday, October 26, 2020

NAICOM: Insurance expert wants stiffer penalties for claims payment defaulting insurers

By Ginika Okoye Abuja, Sept. 2020 Mr Ekerete Gam-Ikon, an insurance consultant has appealed to the National Insurance Commission (NAICOM) to be stiffer on recalcitrant insurers who subject their clients to hardship due to delay in payment of claims. Gam-Ikon made this known in an interview...

PenCom, NAICOM sign MoU to reform Nigeria’s insurance sector

By Rukayat Adeyemi Lagos, Sept. 1, 2020 The National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) on Tuesday signed a Memorandum of Understanding (MoU) to revise regulation on Retiree Life Annuity and guidelines on Group life Insurance policy. Mr Peter Aghahowa, Head, Corporate Communications...

NAICOM charges Insurance operators to reposition for Post-COVID-19 era

By Rukayat Adeyemi Lagos, Aug. 20, 2020 The Commissioner for Insurance, Mr Sunday Thomas, on Thursday charged operators in the insurance industry to deal with unethical business behaviour in the sector, with a view to repositioning the industry for post-COVID-19 era. Thomas, the Chief Executive...

Senate moves to probe alleged $2, 000 hike in residence permit for foreigners

By Naomi Sharang Abuja, Aug. 19, 2020 The Senate will prove the hike in the annual residence permit for foreigners from 1, 000 dollars to 2, 000 dollars by Continental Transfert Technique Ltd (CONTEC) Chairman, Senate Committee on Finance, Sen. Solomon Adeola made this known...

NigComsat: Rep. committee probes alleged N180.9m insurance breach

By EricJames Ochigbo Abuja, Aug. 18, 2020 The House of Representatives Committee on Insurance and Actuarial on Tuesday, began investigations into the N180.9 million insurance premium allegedly paid for the failed Satellite 1 project launched in 2011. The committee is also investigating the Satellite 1-R...

Ekiti health insurance takes off, targets 10,000 pregnant women, children

Ado Ekiti, July 10, 2020, A total of 10,000 pregnant women and children are to benefit from the Ekiti State Health Insurance Scheme (SHIS), as Gov. Kayode Fayemi launched its take-off on Friday in Ado Ekiti. The governor said that the scheme was designed toward...

Agritask, Royal Exchange launch digital crop, livestock insurance to underwrite 1 mln Nigerian small holder farmers by 2025

For millions of Nigeria's smallholder farmers, the opportunity for market and financial inclusion is no longer a dream Lagos Nigeria, April 7, 2020 / -- Agritask, a leading global developer of a holistic agronomic operations platform, in collaboration with Royal Exchange, General Insurance company limited,...

In 2019, Nigeria’s local insurance players lost 50.8% business to foreign investors

Nigerian insurers were unable to utilise the 70 per cent local content capacity allotted to them through the Local Content Act, retaining only 19.2 per cent in 2019, Naija247news understand. The indigenous insurers were only able to retain 10.8 per cent out of the 70...

Nigerian Insurance Industry lags behind its African peers with penetration rate of 14.7% – NSE CEO

the Nigerian Insurance Industry still lags behind its African counterparts - with South Africa having a penetration rate of 14.7%, Kenya 2.8%, Ghana 1.1% and Egypt 0.6%, Oscar Oyema, Nigeria Stock Exchange CEO has said in a speech delivered at Insurance Sector Forum. According to...

Expert gives Reasons Why NAICOM Should Be more transparent On Insurance sector Recapitalization

By Ekerete Gam-Ikon* The time has come for the insurance sub-sector in Nigeria to be brutally honest with herself in order to gain the needed capacity to connect, collaborate and communicate more effectively with the citizenry; especially other economic actors/stakeholders. Without TRUST returning...
WP to LinkedIn Auto Publish Powered By : XYZScripts.com
Open chat
Discuss your story with us