Great Nigeria Insurance PLC has appealed a court ruling that ordered it to pay N16 million to Ade Distribution and Investment Company over a burglary insurance claim, citing premium payment disputes.
The article outlines eight warning signs that indicate a struggling insurance company, such as failure to pay claims, lack of transparency, and financial instability. It aims to guide readers in identifying these red flags to protect their financial security when selecting an insurance provider in Nigeria.
The Ministry of Youth Development and NAICOM have signed an MoU to train one million Nigerian youths in insurance, fostering entrepreneurship, raising awareness, and expanding employment opportunities across Nigeria’s 774 local government areas.
A new bill in Nigeria mandates individuals in insurance and financial services to provide a Tax Identification Number (TIN) for account operations, aiming to enhance tax compliance and streamline revenue collection.
South African life insurers paid R298 billion in claims during the first half of 2024, remaining financially robust despite high payouts, with concern over policy lapses due to economic pressures.
This article outlines common mistakes policyholders make during the insurance claims process and offers practical solutions to avoid them. It highlights the importance of understanding policy terms, timely notification, accurate documentation, and open communication to ensure a smooth and successful claims experience.
This article explores the vital role of legal counsel in insurance disputes. It discusses how lawyers help policyholders and insurers with policy interpretation, legal rights, settlement negotiations, litigation, compliance, and protection against bad faith practices, ensuring fair resolutions in complex insurance claims and disputes.
The Ogun State chapter of the Nigeria Union of Pensioners urges Governor Dapo Abiodun to include pensioners in health insurance schemes and address pending pension increases to alleviate health and economic hardships.
NAICOM and the Ministry of Marine and Blue Economy are collaborating to enhance marine insurance compliance, including developing an online portal for policy verification, to strengthen Nigeria’s maritime regulatory framework
The article addresses common misconceptions about insurance that often discourage people from purchasing coverage. It debunks myths like insurance being too expensive or unnecessary for young people, explaining the importance of understanding insurance policies and seeking professional guidance to make informed financial decisions.
This article explores the emerging trend of pet insurance in Nigeria, highlighting its benefits, types of policies, and challenges. It discusses why pet insurance is gaining attention, how it can provide financial protection for veterinary care, and its potential to grow in Nigeria as pet ownership increases.
Femi Quadri, a Nigerian socialite, was arrested in the U.S. for allegedly stealing identities to fraudulently claim over $1 million in disability and COVID-19 benefits from American citizens.
The House of Representatives has called for an urgent review of the National Health Insurance Scheme’s medicine price list due to economic challenges, rising inflation, and exchange rate fluctuations affecting healthcare access.
African Alliance Insurance faces pension payment delays due to legacy issues, leaving annuitants unpaid for five months, while NAICOM addresses the situation.
PenCom has approved the merger of ARM Pension Managers and Access Pensions, creating Access ARM Pensions Limited. The merger aims to enhance operational efficiency, service delivery, and scale within the pension sector.
Professor Victor Banjo highlighted the importance of changing perceptions about insurance, sharing his experience where SUNU Assurances quickly restored his family’s financial situation after a fire incident, emphasizing customer-centric service.
NAICOM enforces its 10-year tenure limit for insurance executives, leading to the suspension of Universal Insurance CEO Ben Ujoatuonu. Other insurance companies face similar scrutiny.
This article explores specialized insurance solutions tailored for high-net-worth individuals (HNWIs) in Nigeria. It covers asset protection, liability coverage, personal security, estate planning, business insurance, and cross-border risks. It emphasizes the importance of customized policies to meet the complex needs of HNWIs and ensure their financial security.
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