COVID-19: Insurers Set To Pay N3m On Deceased Doctor   Nigerian insurers have said they are ready to pay N3m to the first medical casualty who died while taking care of a COVID-19 patient in fulfilment of their promise to provide free cover for medical personnel. Some...

COVID-19: NAICOM Extends Insurers’ Account Submission Deadline   The National Insurance Commission has extended the submission of first quarter returns of insurance companies by one month as part of efforts of efforts to fight against coronavirus in the sector. NAICOM disclosed this in a circular to all...

Govt Agency, Insurers To Recover N45bn From Fake Insurance Practitioners   The Federal Government is working with operators to recover about N45billion lost to fake insurance practitioners nationwide on Third Party Motor Insurance Policy in Nigeria. Accordingly, the Federal Roads Safety Corps (FRSC), has concluded plans to...

NAICOM Extends Insurers’ Recapitalisation Deadline To December 2020   The National Insurance Commission has extended the recapitalisation deadline for insurance companies earlier slated for June 30, 2020 to December 31, 2020. The commission disclosed this on Monday in a circular which was signed by the Director (Policy...

Insurers To Raise N50bn New Capital For Recapitalisation   Out of the 58 insurance companies in the nation’s economy, seven have reached to their investors to mobilise a cumulative sum of N50 billion new capital to meet June 2020 recapitalisation deadline.While others are still fine-tuning strategies...

NAICOM May Kick Against Insurers' Recapitalisation Plan The National Insurance Commission may reject the plans submitted by some insurance companies on how they planned to meet its recapitalisation requirements. Sources from the commission told our correspondent that some of the companies submitted plans to the commission...