InsuranceWorld


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    Relevance of Insurance During Meltdown

    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.

    ‘Employers Should Buy into Pension Scheme’

    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.

    Experts Fault Inappropriate Risk Pricing

    AS more insurance companies continue to churn out cheap products in the guise of taking insurance closer to the people, experts have continued to call for caution.

    Dismissed Staff Sue Naicom

    THIRTY-FOUR staff memeber of the National Insurance Commission (Naicom) who were recently dismissed from the services of the organisation have dragged it and the Commissioner for Insurance before a Federal High Court in Abuja.

    MR. Wale Onaolapo, managing director of Sovereign Trust Insurance Plc, has called on Nigerians to be cautious and safety-conscious during this period of the ‘ember’ months so as to safeguard lives and properties.

    Following claims and counter claims of blackmail between brokers and underwriters in the insurance industry on the non remittance of premium, coupled with the shakeup in the banking sector, underwriters have been called upon to reconcile their books.

    Insurance Bodies Divided on Awareness Creation

    Mr. Fola Daniel, Commissioner for Insurance (CFI) has stated that the various arms that make up the insurance industry are not unified in awareness creation.

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