Nigeria’s Federal Government targets insurance firms, others to fund national shipping fleet.

THE Nigerian Federal Government is targeting banks and insurance companies to finance the national shipping carrier, following the withdrawal of a Singaporean liner, Pacific International Lines (PIL), from the initiative. The Singaporean shipping company, with over a hundred ships in its fleet world-wide, had said that it would not be able to cope with the… Continue reading Nigeria’s Federal Government targets insurance firms, others to fund national shipping fleet.

Global telephony insurance market to hit $ 20.5 billion

Given the increasing prevalence of expensive household goods, cars and consumer electronics, insurance has become an unavoidable and often necessary cost in modern life. Mobile phones and smartphones in particular, are no exception to this trend. Report has it that most major mobile operators, insurance specialists, retailers and even banks now offer insurance plans that… Continue reading Global telephony insurance market to hit $ 20.5 billion

NAICOM sets 2 years limit for Bancassurance partnerships.

Nigeria’s National Insurance Commission (NAICOM) has placed a two year limit on bancassurance partnerships between insurance companies and banks. The regulator also pegged the referral commission to be paid by the insurer to a referral bank at 40 percent of the insurance brokers’ commission. These were contained in the bancassurance guideline recently released by the… Continue reading NAICOM sets 2 years limit for Bancassurance partnerships.