OUTSTANDING premiums have always been an issue   between underwriters and brokers in the insurance industry. Prior to now, the trend is for underwriters to declare huge premium income at the close of every financial year only for the figures to turn out to be mere paper work as there is no liquidity backing up such figures.
Worried by these turn of events, the National Insurance Commission (Naicom) gave a directive that underwriters must make provision for outstanding premiums; in essence no more classifying them as profit as is hitherto the case; as well as directed that no chief executive  of an underwriting firm must own or have shares in a broking firm.

PRIVATE medical outfits in the country are still shunning the National Health Insurance Scheme (NHIS) initiated by the federal government.

THE International Finance Cooperation (IFC), a member of the World Bank Group has stated its readiness to increase access to health care for people of all income levels and raising standards of quality and efficiency in the sector for all Nigerians.

AS the laws and rules governing the practice of insurance in the country undergo review, the new laws which will emanate at the end of the review will give birth to a new insurance industry.

FOLLOWING the dwindling fortunes of underwriting firms, experts have called for their voluntary mergers and acquisition.

IN the wake of the global economic crisis, the Nigerian insurance industry prided itself as the sector that will salvage the Nigerian economic scene from the turmoil of the financial crisis.As risk bearer, the insurance industry was of the opinion that it will serve as a hedge to the other sectors of the economy in mitigating the effects of the meltdown.

MRS. Fisayo Ofili, head, national sales, Stanbic IBTC Pension Managers Limited, have called on employers of labour who have yet to embrace the new pension scheme to do so.

INSURANCE companies have been charged to follow the rules of the profession. This is pertinent because if insurance companies follow the rule of the game they are not likely to run into the kind of problem that the banks ran into.