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Tag: Insurance

Loan apps: FCCPC to address rising debt with new policy
Business

How poor customer satisfaction affects insurance industry – FCCPC

The Federal Competition and Consumer Protection Commission, has stated that there are detrimental effects from the insurance industry’s low customer satisfaction rates. The Punch revealed that the Executive Vice Chairman of the FCCPC, Tunde Irukera, made this announcement on Thursday in Lagos at the Insurance and Pension Editors of Nigeria Roundtable. The theme of the event was, “Consumer […]

Leadway Assurance to launch new reporting protocol
Insurance

Leadway Assurance to launch new reporting protocol

The International Financial Reporting Standard is anticipated to be implemented very soon, according to Leadway Assurance Limited. According to The Punch, an international financial reporting standard called IFRS 17 (formerly known as IFRS 4 Phase II) was created by the International Accounting Standards Board and would provide new guidelines for disclosing profit emergence from insurance […]

Why insurance sector needs repositioning - FG
Uncategorized

Why insurance sector needs repositioning – FG

The Minister of Finance, Budget, and National Planning, Dr. Zainab Ahmed, has urged West African insurance providers to restructure the sector for global competitiveness. The Punch reported that she gave a speech during the 50th-anniversary celebration and educational conference of the West African Insurance Companies Association in Lagos State, Nigeria. The conference’s theme was “Re-positioning the insurance industry […]

Why insurance sector needs repositioning - FG
Insurance

Why West Africa’s insurance sector needs upgrade – Finance Minister

Nigeria’s Minister of Finance, Dr. Zainab Ahmed, has urged insurance stakeholders in West Africa to update their operations in order to take advantage of the African Continental Free Trade Agreement and expedite intra-African trade. According to Nairametrics, the Minister made this announcement on Monday during the “Repositioning Insurance Industry in West Africa for Global Competitiveness” […]

the Commissioner for Insurance, Mr. Sunday Thomas
Business

Insurance claims hit N1.5tn with increased awareness 

Insurance industry statistics has revealed that Nigerian underwriting companies have paid N1.5tn claims to their customers over a six-year period.   The National Insurance Commission reports that claims paid by underwriters have increased with intensified awareness and premiums.     Industry experts say prompt claims settlement is the most significant promotion needed to encourage insurance […]

Why stakeholders must create sustainable insurance policy
Insurance

Why stakeholders must create sustainable insurance policy

Vanessa Anetoh   The Institute of Loss Adjusters of Nigeria has stressed the need for stakeholders to develop sustainable insurance policies in Nigeria’s risk industry. This was disclosed over the weekend at the ILAN’s 13th president’s investiture in Lagos State. Guardian reported that the approach aims to equip industry players with the necessary tools to […]

Companies insure top executives against kidnapping
News

Companies insure top executives against kidnapping

Some companies, especially multinationals in Nigeria, are obtaining insurance for their top executives in case they are taken hostage as kidnappings soar in the country. A report by SBM Intelligence revealed that an average of 13 people were kidnapped in Nigeria every day in the first half of 2021. Business Day reported that as of […]

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