Latest insurance news in nigeria

Here are some of the latest insurance news in Nigeria:

  1. Nigerian Insurers Association (NIA) Launches Online Portal: The NIA has launched an online portal to facilitate the processing of insurance claims and policies. The portal is designed to reduce the time it takes to process claims and improve customer service. (Source: The Guardian)
  2. Insurance Industry Records 12% Growth in Premium Income: The Nigerian insurance industry recorded a 12% growth in premium income in 2020, with a total premium income of N844.4 billion. (Source: BusinessDay)
  3. NAICOM Introduces New Insurance Policy: The National Insurance Commission (NAICOM) has introduced a new insurance policy aimed at promoting the growth of the insurance industry in Nigeria. The policy is designed to increase insurance penetration and deepen insurance coverage in the country. (Source: Vanguard)
  4. Insurance Firms to Pay Claims Within 30 Days: The NAICOM has directed insurance firms to pay claims within 30 days of receipt of a valid claim. The commission has also introduced a penalty for insurance firms that fail to pay claims within the stipulated time frame. (Source: ThisDay)
  5. Nigerian Insurers Association (NIA) Partners with International Insurance Association: The NIA has partnered with the International Insurance Association (IIA) to promote the growth of the insurance industry in Nigeria. The partnership is designed to improve the skills and knowledge of insurance professionals in Nigeria. (Source: The Punch)
  6. Insurance Industry Records 15% Growth in Gross Premium: The Nigerian insurance industry recorded a 15% growth in gross premium in 2020, with a total gross premium of N1.2 trillion. (Source: BusinessDay)
  7. NAICOM Introduces New Insurance Products: The NAICOM has introduced new insurance products aimed at promoting the growth of the insurance industry in Nigeria. The products include a new life insurance policy and a new general insurance policy. (Source: Vanguard)
  8. Insurance Firms to Increase Premiums: Insurance firms in Nigeria have announced plans to increase their premiums due to the high cost of claims and the impact of the COVID-19 pandemic on the industry. (Source: ThisDay)
  9. Nigerian Insurers Association (NIA) Launches Insurance Awareness Campaign: The NIA has launched an insurance awareness campaign aimed at promoting the importance of insurance in Nigeria. The campaign is designed to increase insurance penetration and deepen insurance coverage in the country. (Source: The Punch)
  10. Insurance Industry Records 10% Growth in Assets: The Nigerian insurance industry recorded a 10% growth in assets in 2020, with a total asset base of N2.5 trillion. (Source: BusinessDay)

These are some of the latest insurance news in Nigeria. The insurance industry in Nigeria is growing rapidly, with a growing demand for insurance products and services. The industry is also facing challenges, including the high cost of claims and the impact of the COVID-19 pandemic.