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.”

Standard Alliance Life Assurance Ltd, a member_company of Standard Alliance Group, has disclosed it paid out N4,74billion as maturities, value and death claims to its affected group and individual life policyholders during its operations covering three years from 2007 to 2009.

Foreign investors have found investment haven in Niger Insurance Plc as talks are on between the 48year-old and some foreign investors that will soon be made known to the public. The investors, Vanguard investigations revealed, are looking beyond providing financial muscle to support the company’s growth but are also ready to provide managerial and technical services which would enable the company the company take its prime position in the sector.

In keeping with its commitment to providing succour and prompt claims payment to its clients, Oceanic Insurance Group has paid claims totaling N71, 053,654 arising from accidental damage to MT ORE OFE Vessel belonging to Col Nigeria Limited.

Insurance industry has intensified its search for future generation professionals in the various tertiary institutions across the nation as the sector may just be at the mercy of the National Universities Commission (NUC) to help the sector actuate its dream of having insurance included in the curriculum of tertiary institutions across the nation.