Author: Prince Cookey
Nigeria’s insurance reform bill will address current realities and evolving needs, suggests insurers association
The Nigerian Insurers Association (NIA) has commended the recent passage of the Nigerian Insurance Industry Reform Bill 2024 in the Senate, describing [...]
Loss adjusters must adopt tech to reap from Africa’s free trade bloc, suggests Nigerian insurance regulator
Nigeria’s insurance regulator, National Insurance Commission (NAICOM), has challenged loss adjusters in the West African country to leverage technolog [...]
Insurers must capitalise on AfCFTA for industry growth, suggests Nigeria’s regulator
The National Insurance Commission (NAICOM) has urged insurance companies in Nigeria to take advantage of opportunities presented by the African Contin [...]
Regulator, insurers back enforcement of Nigeria’s compulsory third-party covers
The start of enforcement of compulsory third-party motor insurance on Nigerian roads from 1 February 2025 has received backing from insurance regulato [...]
Nigerian insurance market records improved claims management
The Nigerian insurance market posted improved management of claims in the third quarter of last year even as the regulator asked the players to use th [...]
Boost for Nigerian insurers as police enhance compliance with third-party motor cover rules
The insurance market in Nigeria is expecting increased premiums following the decision by the Nigerian Police Force (NPF) to enforce third-party motor [...]
Regulator spooks Nigerian insurers with deadline for settling outstanding claims
The Nigerian insurance industry regulator’s directive for underwriters to settle all outstanding claims by the end of December 2024 as a way of boosti [...]
African Alliance woes raise issues of corporate governance, regulation
On October 30, 2024, the insurance regulator in Nigeria, National Insurance Commission (NAICOM), sacked the entire board and management of African All [...]
Good governance key to deepening insurance penetration, suggests Nigerian regulator
Entrenching good corporate governance is going to be crucial if insurers operating in Nigeria are to solve customers’ pain points and lift penetration [...]
Nigerian regulator outlines role of insurance in driving aviation business in ESG era
Insurers have a chance to drive up the uptake of aviation business as the sector embraces advancements such as electric and hybrid aircrafts in the ra [...]