Crown Takaful gets operating licence, pledges innovative underwriting

Crown Takaful gets operating licence, pledges innovative underwriting

The management of Crown Takaful Insurance Limited has received operating license from the National Insurance Commission (NAICOM) to start business for the benefit of Nigerians. The operation license is coming barely three months after the issuance of approval in principle. As a modern concept of ethical insurance, Crown Takaful Insurance is entering the risk-underwriting market…

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Edun, Dangiwa to grace conference on public buildings insurance

Edun, Dangiwa to grace conference on public buildings insurance

Edun, Dangiwa to grace conference on public buildings insurance By Barbara Bako, Abuja As part of its efforts towards achieving optimal stakeholders participation in the 2023 National Insurance Conference, the Commissioner for Insurance, Olorundare Sunday Thomas, recently paid a courtesy visit on the Minister for Housing and Urban Development, Arc. Ahmed Musa Dangiwa to seek…

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Regulators discuss insurance cover for cyber risks in Nigeria

Regulators discuss insurance cover for cyber risks in Nigeria

Talks began between the National Information Technology Development Agency, NITDA, and the National Insurance Commission, NAICOM, on creating an insurance product to cover the rising cyber risks in Nigeria. Underscoring the move as long overdue, the Director-General of NITDA, Kashifu Inuwa Abdullahi, noted that, ”Nigeria loses about N200 billion to cyber crime annually”. Abdullahi, who…

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Nigeria’s insurance industry pays N1.5tn claims in six years

Nigeria’s insurance industry pays N1.5tn claims in six years

The biggest advertisement needed to promote insurance patronage is prompt claims settlement according to industry experts. The Nigerian underwriting companies have so far paid N1.5tn claims to their customers in six years according to industry statistics. Figures obtained from the industry regulator, the National Insurance Commission, reveal that the claims paid by the underwriters have…

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