From shirtsleeves to shirtsleeves in three generations. This popular American saying describes the well known phenomenon where family wealth is built up in one generation, is often frittered away in three generations. Read all about this phenomenon as well as expert tips to avoid such misfortune … #NewPost #Read #Comment #Share #BSLB #InsuranceBrokers
Farmers in Nigeria will henceforth have good access to insurance coverage as the National Insurance Commission (NAICOM), is championing the course of a specialised and inclusive agric insurance scheme tagged Index based agric insurance(IBAI). The IBAI is an innovative and specialised insurance scheme that pays out benefits on the basis of a predetermined index (e.g.… Continue reading Index Based Insurance Scheme Kicks Off in Nigeria Soon
Nigeria’s National Health Insurance Scheme (NHIS) has been in operation for over ten years but it seems to have failed in the realization of the objectives for which it was established. Key among its failures is the non-realization of the objective of making health care available to Nigerians at affordable costs. As at today, many… Continue reading Failures of Nigeria’s Health Insurance Scheme: the way forward
Nigeria’s National Insurance Commission, NAICOM, yesterday unveiled the revised guidelines for micro-insurance operations, which stipulates N600 million minimum capital base for national micro-insurance license. The Commission defined micro-insurance as ‘insurance developed for low income populations, low valued policies, micro and small scale enterprises provided by licensed institutions, run in accordance with generally accepted insurance principles,… Continue reading Nigeria’s National Insurance Commission sets N600m capital base for national micro-insurance licence.
Nigeria’s Ibom Deepsea Port will accommodate up to 13 New Panamax Class container vessels and two very large feeder vessels upon completion and is estimated to grow from about 1.2 million (Ten Equivalent Units) TEUs in 2021 to about four million TEUs in 2040. This was contained in a statement issued by the promoters of… Continue reading Nigeria’s Ibom Deepsea Port to handle four million TEUs in 2040.
The Nigerian National Insurance Commission (NAICOM) recently took a decision that may serve as a final step to save identified weak firms in the system from total collapse. The commission, was said to have written administrative letters to insurance firms that are presently undergoing financial challenges as revealed by published financial reports, guiding them on… Continue reading Nigeria’s NAICOM Moves to Save Weak Insurance Firms from Collapse
Underwriters in the Nigerian insurance sector have shunned Takaful Insurance products due to a lack of confidence in the prospect for the business. Although the Nigerian National Insurance Commission, NAICOM, gave out the operational guidelines since 2013, insurers are still skeptical about venturing into it as there is a prevailing fear that most Takaful Insurance… Continue reading Nigerian Underwriters shun Takaful Insurance products.