Insurance

The National Insurance Commission (NAICOM) has released what it tagged, “Insurance Web Aggregators Operational Guidelines” for all web aggregators and insurers. The move is in line with the recent digitalisation of its supervisory and regulatory processes, A web aggregator is a company registered under the Companies Act which maintains or …

The Commissioner for Insurance, Mr Sunday Thomas, has urged insurance companies to take claims settlement seriously because it is necessary to boost the image of the insurance industry. Thomas said this in Lagos at an event for insurance companies recently, according to a statement. He said, “One issue that has …

The Commissioner, National Insurance Commission, Mr Sunday Thomas, has said there is not going back on January 1, 2023 deadline for enforcement of full compliance with the International Financial Reporting Standards 17 by the National Insurance Commission, Naicom. Thomas spoke while delivering his speech at the Insurance Director’s Conference. He …

Ebuka Daniel The National Insurance Commission on Wednesday warned the management of insurance companies in Nigeria against refusal to pay claims. The Commissioner for Insurance and Chief Executive Officer of NAICOM Mr. Olorundare  Thomas said this at the 2021 insurance directors’ conference with the theme, “Insurance Industry in a Changing …

Oluwasina Phillip The Nigerian Council of Registered Insurance Brokers (NCRIB) has condoled victims of the 360 Degrees Tower Multi-Storey building collapsed in Ikoyi, Lagos. The Council regretted the huge human and financial loss in the disaster. President of the NCRIB, Barr. Rotimi Edu, in a statement noted that the increasing …

Oluwasina Phillip Operators in the Nigerian insurance and pension sectors have been urged to leverage the opportunities in the COVID-19 pandemic to grow the sectors and contribute to the National economy. A former Director-General, Lagos State Pension Commission, Mrs Folashade Onanuga, said in a presentation to journalists titled ‘COVID-19 impact …

Ebuka Daniel The National Insurance Commission on Wednesday expressed worry that most public buildings and buildings under construction above two floors are not adequately and insured. The Deputy Commissioner for Insurance Technical, NAICOM, Alh. Sabiu Bello Abubakar, said this at a sensitization workshop for the Federal Fire Service and state …

Ebuka Daniel The National Council of Registered Insurance Brokers has said that the federal government is the biggest debtor of the insurance industry. The Executive Director of Operations, Hallmark Micro Life Insurance Company, Mary Adeyanju confirmed this in Abuja. She explained that as the greatest consumers of insurance, it wasn’t …

Oluwasina Phillip The Independent Petroleum Marketers Association of Nigeria (IPMAN) has concluded plans to enlist its over 2.5million members and workers for an insurance scheme with the National Pension Commission (PENCOM).IPMAN’s National President, Elder Chinedu Okoronkwo disclosed this on Tuesday during his visit to the PENCOM headquarters in Abuja. Okoronkwo, …

President Muhammadu Buhari has said that Nigeria and Africa at large hold a bright future for the insurance industry. This is as he charged insurance firms in Nigeria to leverage the ongoing efforts by the Federal Government to grow the non-oil sector of the economy through innovation. Buhari said this …