NAICOM charts path to insurance sector’s growth
The National Insurance Commission (NAICOM) has called for collaborations across the nation’s regulatory agencies, as well as foreign counterparts, in efforts to bridge...
NAICOM yet to receive court order on TBMSC
The National Insurance Commission (NAICOM) has said it is yet to receive a court order, restraining it from enforcing the October 1, 2018, deadline for the recapitalisation of the sector, under the Tier-Based Minimum Solvency Capital (TBMSC).
Insurance inclusion policy for 40m adults in rural communities
The traction in the insurance industry remains undaunted and the recent upsurge in policy directions has proved it. Just after the unveiling of a three-tiered recapitalisation...
Why insurers paid N14 billion worth of claims to fire victims, others
The nation’s insurance sector, through its underwriting firms, have disbursed the sum of N14 billion insurance claims to fire victims across the country.
Insurers’ management expenses hit N264.15bn in five years
Some insurance companies are struggling to remain afloat amid the harsh economic, which had pushed them into incurring huge management expenses above their premium income generated.
Regulator tasks consumers to report non-claims payment to CBU
The National Insurance Commission (NAICOM), has advised consumers with genuine unsettled claims problems to channel their grievances through its Complaint Bureau Unit (CBU), which has been upgraded to listen to aggrieved consumers in Nigeria.
NAICOM orders microinsurance companies to take fresh licences
The National Insurance Commission (NAICOM) has called on the 17 insurance companies that are already selling microinsurance products through the window operations to acquire fresh licence within a period of 18 months.
Consumers,others charge insurers on seamless service delivery
Major consumers of insurance products have said that before the nation’s insurance industry can be viable like others there is need for the regulators and operators to be mindful of efficient service delivery and prompt claims settlement to the insuring public.