Index Based Insurance Scheme Kicks Off in Nigeria Soon

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

2018 National Budget: Nigeria’s Federal Government Plans Group Life Insurance For 89,000 Workers

The federal government of Nigeria has made budgetary provision to the tune of N5.4 billion as 2018 Group Life Insurance cover for its 89,000 workforce, in the 2018 national budget currently before the National Assembly (NASS). To this end, all Federal government workers who die or suffer accidents while in active service will have access… Continue reading 2018 National Budget: Nigeria’s Federal Government Plans Group Life Insurance For 89,000 Workers

2018: What insurance players can expect in the next 12 months

Sensors monitoring your everyday physical and digital life, artificial intelligence tailoring your insurance to fit your needs? Sound like the future? Sure—if the future is 2018. Nordic Director of Insurance in Accenture, Jacob Tovborg-Jensen, explains what’s in store—near-term—when it comes to innovation. Developments in insurance are moving at break-neck speed: 2017 saw a year that… Continue reading 2018: What insurance players can expect in the next 12 months

Unpaid Claims: Insurance Companies To Lose N30bn Statutory Deposit

Insurance companies in the country who fail to pay genuine claims, risk losing a substantial part of their cumulative N30 billion statutory deposits, while managing directors of the underwriting firms will also face removal, this was revealed by reliable inside sources. Findings revealed that the 58 registered insurance companies in the country have cumulative statutory… Continue reading Unpaid Claims: Insurance Companies To Lose N30bn Statutory Deposit