Category Archives: Insurance

Wapic Insurance Plc Emerges Official Insurance Services Provider of the Nigeria Football Federation

Wapic Insurance Plc. (‘’Wapic.’’) wishes to notify its shareholders, stakeholders and The Nigerian Stock Exchange (‘’the Exchange’’) that it has signed a Memorandum of Understanding (MoU) with the Nigeria Football Federation (NFF) thus, making Wapic the official insurance services provider to the NFF and co-sponsor of the NFF. By this, Wapic becomes the Official Insurer of the NFF; Official Insurer of the Super Eagles and other national teams; Co-Sponsor and Official Partner of NFF.

The MoU was signed by the President, Nigeria Football Federation, Mr. Amaju Pinnick, and the Managing Director of Wapic, Mrs. Yinka Adekoya, in the presence of other Football Federation dignitaries which included the Independent Chairperson of the Nigeria Women Football League (NWFL), Ms. Aisha Falode, the Executive Director, Wapic Insurance, Mr. Olufemi Obaleke, the Chairman, Senforce Insurance Brokers,

Mr. Anirejuoritse Ojuyah, the first Vice-President of NFF, Barr. Seyi Akinwunmi, the 2nd Vice-President of NFF, Mr. Shehu Dikko and other distinguished guests.

Nigeria Social Insurance Trust Fund enters FOI ‘Hall of Shame’

A civil society group, the Media Rights Agenda (MRA), on Tuesday inducted the Nigeria Social Insurance Trust Fund (NSITF) into its ‘Freedom of Information (FOI) Hall of Shame,’ accusing the agency of keeping critical stakeholders in the dark by not making relevant information available to them, despite the provisions of the FOI Act, 2011.

In a statement in Lagos Nigeria, Ayode Longe, MRA’s Programme Director, said by its actions, the NSITF was undermining the FOI Act and thereby rendering even its own statutory mandates ineffective.

He noted that the NSITF was failing to comply with the provisions of the FOI Act and carrying out its operations in secrecy, arguing that under those circumstances, it could not hope to elicit the trust of workers who are expected to make monthly contributions from their salaries to it.

Cheaper Car Insurance for Young Ladies

Looking for information on Car Insurance for Ladies? This post will help you with vital facts on getting Cheap and Reliable car insurance for Women.

… There is a  common misconception that women are bad drivers is not backed up by insurance statistics. In fact, ladies of all ages are less expensive to buy car insurance for, especially women under the age of 25. There are not insurance discounts aimed solely at female drivers, but women can take advantage of the same discounts as men, and since they are already cheaper to insure the savings will seem to be that much larger in comparison.

Linkage Assurance Starts New Phase of Growth

Underwriting firm, Linkage Assurance Plc has revealed plans for a new phase of business growth that will ensure better investment returns for its shareholders.

This is part of the strategies initiated by the new management to unlock the potential in the organisation to drive better performance and profitability in view of challenges in the current market environment.

The Chairman, Board of Directors, Dr. John A. Eseimokumoh, at the company’s 23rd Annual General Meeting in Lagos, said Linkage is now positioned to take competitive advantage of the transformation and regulatory efforts of the National Insurance Commission (NAICOM).

People with Mental illnesses Refused Access to Insurance Cover

Insurers have been accused of depriving access to life insurance and other kinds of cover to people with depression and anxiety, even for physical conditions unrelated to their mental health.

People who have suffered even mild mental health conditions or one-off episodes say they have been refused life insurance altogether, aggravating their financial insecurity.

CIIN Charges New Members, others, on Integrity

In line with plans to register fresh 3,000 members that would spread the gospel of insurance benefits to the doorsteps of Nigerian before the end of the year 2018, the Chartered Insurance Institute of Nigeria (CIIN), has inducted more fellows and associates into the fold.

CIIN at the institute’s 2017 Graduation and Fellowship Awards Ceremony, called on the newly inducted members to embrace integrity, and avoid unwholesome practices that can tarnish the image of the nation’ insurance industry.

The President, Funmi Babington-Ashaye, assured members that the responsibilities conferred on the institute by statute have continued to engender a robust platform for the propagation of insurance education in Nigeria.

Global Mobile Phone Insurance Market to Hit $ 20.5 billion

Given the increasing prevalence of expensive household goods, cars and consumer electronics, insurance has become an unavoidable and often necessary cost in modern life. Mobile phones and smartphones in particular, are no exception to this trend.

Report has it that most major mobile operators, insurance specialists, retailers and even banks now offer insurance plans that cover theft, loss, malfunctions and damage of mobile phones. Many policies now also integrate enhanced technical support and additional protection features such as data backup facilities, allowing users to securely backup their phone data online.

NAICOM cuts Microinsurance Firms’ Capital base to N40m

The National Insurance Commission has reduced the minimum capital base for microinsurance companies from N150m to N40m.

This was contained in the new microinsurance guideline that was released by the commission and obtained by our correspondent on Monday.

“As part of the commission’s determination to improve financial inclusion in Nigeria, particularly to the underserved and excluded segment of the populace, the commission has reviewed the microinsurance guidelines of 2013, and hereby releases a revised guideline,” NAICOM stated.

The commission added that the implementation of the guideline had commenced.

Under the old guideline, the commission pegged the minimum capital to commence life microinsurance and non-life microinsurance at N150m and N200m, respectively, while firms willing to operate both were expected to have at least N350m capital.