Tag: NAICOM
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Insurers to cover all resolved claims – NAICOM
The National Insurance Commission (NAICOM) has stated that insurance companies are now required to cover the costs of every case it resolves.
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Insurance sector key to $1trn economy – NAICOM boss
The Commissioner for Insurance, Mr Olusegun Omosehin, has emphasised the importance of a financially stable insurance sector to achieve Nigeria’s goal of a one-trillion dollar economy by 2030.
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Ex-NAICOM boss denies FG tampered with pension funds
Mr Olorundare Thomas, the immediate past Chief Executive Officer, National Insurance Commission (NAICOM), says the Federal Government has not borrowed from the accumulated pension funds.
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BREAKING: Tinubu appoints new NAICOM board
President Bola Tinubu has appointed Ms. Halima Kyari as the Chairperson of the Board of the National Insurance Commission (NAICOM).
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We’re not recruiting – NAICOM
The National Insurance Commission (NAICOM) says the commission is not conducting any recruitment exercise currently or, offering any grants or financial assistant programmes.
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TNG Deal Breakers: NAICOM’s intervention in commercial rating: an avoidable entry into the ring
The regulatory oversight function which framed the 1997 Act that birthed the National Insurance Commission did not envisage that regulator would one day begin to inch towards making itself a party in the insurance contract by setting rates for the purely commercial transactions of insurance companies.
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Increase in Third Party Insurance premium – By Francis Ewherido
A circular dated December 22, 2022, from the National Insurance Commission (NAICOM) increased the premium and limit of liability of various classes of motor insurance. Private motor third property limit was increased from N1m to N3m; own goods limit was increased to N5m; staff bus was increased to N3m; trucks/general cartage; special types was increased…
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Consumers reject NAICOM’S directive on 3rd party insurance, call for reversal
The Insurance Consumers Association of Nigeria (INSCAN) has called on the National Insurance Commission (NAICOM) to reverse its directive on the increase of third Party Motor Insurance Premium in Nigeria. This is contained in a letter signed by its National Coordinator, Chief Yemi Soladoye, and made available to newsmen on Sunday in Ibadan. Newsmen reports…
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Third Party vehicle insurance raised from N5,000 to N15,000
The National Insurance Commission (NAICOM) has raised Third Party insurance cover for motorists from N5,000 to N15,000 yearly with effect from January 2023.
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TNG Deal Breakers: NAICOM and merits of regulatory diplomacy
The National Insurance Commission is the federal government’s regulatory agency for Nigeria’s insurance activities. One of its most important functions is to act as an adviser to the government on insurance matters. This function is advisory and persuasive in practice and does not in any way preclude the advised from seeking counsel from other sources.