The Risk & Insurance Management Society on Thursday voiced its disappointment in the New York State Insurance Department’s final producer compensation regulation, calling it a “180-degree shift from previous versions in terms of its commitment to consumer protection for renewals.

Industrial And General Insurance Plc (IGI) has been appointed the Official Insurer of the Nigeria Premier League (NPL). The endorsement came at a contract signing ceremony attended by officials of IGI AND NPL and Carrier Insurance brokers IN Lagos recently.

Insurance PHB has paid a total claims of over N550 million in the year 2009. A breakdown of the settled claims shows that claims paid on Private Motor Insurance amounted took the largest portion of expended figure, amounting to N304.84million. This was followed by Commercial Motor which took N79,47million cClaims paid for Money insurance businesses stood at N44.54million, while claims on bonds took as much as N33. 79million Consequential Loss insurance attracted a total claims settlement of N28,568,072.08, while Claims on Group Personal Accident attracted claims of N15.73million.

The absence of appropriate risk management models to protect Nigeria’s mono product economy and the dependence of the local stock market on foreign resources combined to deepen the nation’s economic crisis at the onset of global financial meltdown.

AS part of measures to ensure that Cooking Gas is available in every Nigerian home, the Federal Government said that it is prepared to partner with the Nigerian Association of Liquefied Petroleum Gas.