The cyber risk insurance market is growing steadily, with financial institutions such as health funds and smaller banks among the first adopters, according to Zurich Head of Financial Institutions Asia-Pacific Damian Lynch.Read More
Commissioner for Insurance, Mr. Fola Daniel has said that the federal government has complied 100 per cent with the ‘no premium, no cover’ policy on insurance accounts.Read More
For a risk to be insurable, there must be an element of uncertainty whereby the unfortunate may happen or may not happen. That uncertainty element allows the insurer to predict by the use of the law of large numbers and probability theory, that from a homogenous group transferring their risks, a given percentage might incur losses, and from the contribution of the homogenous group, the insurer can compensate the few amongst them.Read More
Existing and prospective customers of pension fund administration will enjoy even more convenience as Stanbic IBTC Pension Managers, a member of Stanbic IBTC Holdings, deploys an innovative mobile office, the first of its kind in the pension industry in Nigeria.Read More
Stakeholders in the health, finance, industrial and oil and gas sectors have called for the adoption of the Public Private Partnership, PPP, model in reaching the grassroots and in sustaining of healthcare initiatives in Nigeria through.
The stakeholders, in a communiqué at the Livewell Initiative, LWI, Strategic Focus Group Meeting on Promotive Healthcare in Lagos, said the PPP model, in addition to a proactive and deliberate strategy, will help facilitate wellness promotion and health status awareness among the populace.
The communiqué signed by Mrs. Bisi Bright, Chief Executive Officer, LWI, emphasised the need for healthcare services to be made available to the general population, especially in view of the burden of diseases which is a multi-disciplinary, multi-agency affair.
“The starting point should be advocacy, awareness and thereafter, there should be leadership by government and the private sector, and, lastly, legislation and enforcement.
“Health insurance should be offered to workers through their employers so they can access healthcare. Out of pocket expenditures for healthcare should be minimised with community health insurance for the informal sector and for poorer populations who pay for health out of pocket.
“Preventive measures should be emphasised in order to avoid loss of health, financial costs of treatment, and loss of ability to work, which can lead to further impoverishment. “A lack of awareness and understanding of current public health resources including the Community Based Health Insurance Scheme (CBHIS) exists, which results in wasted resources due to underutilised staff. Raising awareness of this, health fairs, screening opportunities, and other healthcare resources must be made a priority,” the communiqué noted.
Participants at the meeting include: Dr. Dr. Olufemi Olugbile, Permanent Secretary Health Lagos State , who acted as the Chairman; Dr. Mona Khanna, Clinical Associate Professor, University of Illinois, USA, and Fox Chicago News Medical Contributor, who doubled as the Co-Chairman; Dr. Edet Edet, Public Health Adviser, Shell Petroleum Development Company; Mrs. Kemi Ajayi, Chief Operating Officer, Banwo & Ighodalo; Mr. John Edheku, National Sales Manager, May & Baker, Mrs. Bisi Bright and Dr. Adebola O. Hassan, Technical Specialist Health, USAID SHOPS, among others.
The participants expressed concern over significant increase in the statistics of maternal mortality rate in the country, calling for a synchronisation between the government and the private sector with the advocacy and increased primary healthcare activities.
They also advocated the need for collaboration between the communities, partners, NGOs and the health system.
The participants blamed the negative socio-behavioral and attitudinal response of low literacy women to the health facilities, was responsible for high maternal mortality rate, adding that the statistics can be brought down through community engagement programmes.Read More
If you can cultivate the habit of savings, it will help you in life. Insurance, which is a way of savings, is there for you too. Through insurance you can save for the future and for the training of your children (education insurance). The general public should shun the apathy towards insurance. It is one of those services in modern times that can always provide a relief or a solution to some of our problems.Read More
THE need to continually sensitise the youths on the importance of insurance has been identified as a strategic factor in the deepening of insurance penetration in the country.Read More
THE Nigerian Insurers Association (NIA) and the International Monetary Fund (IMF) are exploring means to harness and turn the potentials of the insurance industry into economic growth for the country.Read More
The flag officer commanding Western Naval Command, Rear Admiral Ibok Ete Ibas has commended the management of Capital Express Assurance Limited for donating and furnishing an archives’ building for the Nigerian Navy Secondary School, Navy Town, Ojo, in Lagos.Read More
Insurance is the transfer of risk from people & corporate institutions to professional risk carriers, bearers – the insurance companies. Every one of us is exposed to one risk or the other because life is full of risks and all these risks can be identified, quantified and handled by insurance transfer mechanism.Read More
The Nigerian Insurers Association (NIA) and the International Monetary Fund (IMF) are exploring means to harness and turn the potentials of the insurance industry into economic growth for the country.Read More
In a quest to reduce poverty in the economy, the Federal Government is putting finishing touches on the insurance industry bill for onward transmission to the National Assembly.Read More
LAW Union & Rock Insurance Plc has said it is improving household insurance with COMPAC insurance policy to give more protection to buildings and occupants.Read More
Insurance is the transfer of risk from people exposed to risks to professional risk carriers, which are the insurance companies. Every one of us is exposed to one risk or the other because life is full of risks and all these risks can be identified, quantified and reduced to monetary terms.Read More
Staco Insurance plc has taken on as the official insurer of MTN Lagos Street Soccer Championship Season six even as the underwriter has thrown its weight behind the tournament.Read More