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Insurance and You

Deepening penetration through promotion of retail insurance

IT is no longer news that insurance penetration in Nigeria is below one per cent and this is due to the obvious fact
that the greater part of the population have refused to accept insurance as a risk transfer mechanism.

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NAICOM warns brokers to stop illegal alliances with state govts

THE National Insurance Commission, NAICOM, has warned brokers’ that are into some form of arrangements with various state governments whereby insurance policies are being offered to unsuspecting public to desist from such acts. Commissioner for Insurance, Mohammed Kari, who gave the warning during the 2016 annual chief executive officers retreat of the Nigerian Council of Registered Insurance Brokers (NCRIB) in Osun State, said that such acts are illegal.

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Protest looms in NAICOM as mgt allegedly reneges on agreement

The last may not have been heard of the battle between the executive management of the National Insurance Commission (NAICOM) and the Commission’s staff under the Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Service Employees (AUPCTRE) as the insurance regulator is alleged to have reneged on some of the contending issues agreed upon by both parties.

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