30-Word Summary: Nigerian insurance firms are spending between N50 million and N100 million to comply with IFRS 17. While some companies have succeeded, others are struggling to meet the financial requirements of the new standard.
This article emphasizes the importance of regularly reviewing and updating insurance policies to ensure they remain relevant and adequate. It highlights key reasons for reviews, such as changes in personal circumstances, inflation, and regulatory shifts, and outlines steps and best practices to keep coverage aligned with current needs.
PenOp concluded its inaugural Induction Academy, equipping new pension industry employees with essential skills in investment strategies, compliance, and customer service. The program aims to foster professional growth and industry readiness.
The article explains the importance of cyber insurance for businesses, covering its role in protecting against financial losses from cyber threats like data breaches and ransomware. It details different types of coverage, what to look for in a policy, and best practices for managing cyber risk, emphasizing the need for preparedness.
This article highlights the benefits of Group Personal Accident Insurance, emphasizing its comprehensive coverage for accidental death, disability, and income loss. It discusses how GPA insurance provides financial security, enhances employee morale, and offers cost-effective solutions for employers.
A Group Life Insurance contract covers the Members of a particular group. The group could be employees, members of a club, society, association, etc. It provides financial compensation in the
This article provides an overview of essential insurance policies for SMEs in Nigeria, highlighting compulsory and recommended coverages, the importance of timely claim settlement, and the role of insurance brokers. It emphasizes the necessity of insurance for managing risks, ensuring business stability, and facilitating growth.
This article provides comprehensive insights into vehicle third-party insurance in Nigeria. It covers its definition, coverage, legal requirements, and how to check policy validity. Notably, it highlights recent premium changes by NAICOM. The FAQ section addresses common queries, and it concludes with a reminder to ensure valid insurance coverage and contact information for inquiries.
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