Category Archives: Insurance

Four insurance brokers given subpoenas in major US investigation

The New York State Department of Financial Services (NYDFS) has issued subpoenas to four insurance brokers as part of an investigation into pension risk transfer deals.

The subpoenas were issued Wednesday to units of Morgan Stanley, Aon, Willis Towers Watson, and Mercer – a Marsh & McLennan company. The regulator is seeking documents about their communications with insurer Athene Holding, people close to the matter told Reuters.

Doctors warn Australia’s private health sector is heading towards a US-style system

“Have you got insurance?”

It is one of the first questions any patient is asked when they walk into an emergency room in the United States, no matter how sick they are.

And now Australian doctors are warning our own health system is shifting towards a similar US managed care model — a patchwork of private and public systems, where health insurers hold an increasing amount of power.

Everything you need to know about small business health Insurance

Everything you need to know about small business health insurance

The health insurance sector is rising significantly. Finding the appropriate small business health insurance can be a daunting task. It can be one of the most effective parts of your business. The health insurance coverage is an important part of all the businesses. If you have a small business, you will need to consider a lot of factors.

Small business is very much vulnerable to being duped. The price for health insurance sectors has risen significantly over the years. There are several benefits to health insurance. Several plans have helped understand the benefits of small business health insurance.

Why is it necessary to get small business health insurance?

PenCom Set to Generate Additional N3 trillion assets to Micro Pension Scheme

The National Pension Commission (PenCom) has disclosed its resolve to generate additional N3 trillion assets and 20 million contributors from the micro pension scheme, said the Acting Director General of PenCom, Mrs. Aisha Dahir–Umar. She also disclosed that the commission is currently consulting with relevant stakeholders on how to drive and harness opportunities embedded in the newly launched micro pension scheme.

PTAD Commences Verification of 104,133 Pensioners

The Pension Transitional Arrangement Directorate (PTAD) yesterday in Lagos started a nationwide verification exercise for all pensioners of treasury funded parastatals, agencies and institutions under the Defined Benefit Scheme (DBS).

Its Executive Secretary, Mrs Sharon Ikeazor who started the exercise said a total of 104,133 pensioners and Next of Kin (NoK) of 270 federal funded parastatals, agencies and institutions under the DBS will be verified.

She said the exercise will help PTAD to validate inherited payrolls from various defunct pension boards and offices which was handling payment to pensioners under the DBS.

She added that it will also enable them achieve substantially reduced complaints from pensioners, ensure that only qualified, biometrically verified pensioners are on the database and payroll system, among others.

She said the exercise will cover retirees of Federal Universities, Polytechnics, Colleges of Education, Teaching Hospitals, Medical Centers, Power Holding Company of Nigeria, Nigeria Railway Corporation, Nigeria Postal Services, Research Institutes, and other Treasury of all federally funded Parastatals, Agencies and Institutes.


Old Mutual Launches 2-in-1 Savings Plan

Old Mutual, has launched its 2-in-1 Savings Plan for customers in Nigeria, especially young professionals and families. With a minimum monthly contribution of N5, 000, customers can save up funds for a period of five or 10 years to fund their future financial goals.

AXA Mansard, Uber Partner on Safety Workshop for Drivers

AXA Mansard, a member of AXA Group, one of the global leaders in insurance and asset management, collaborated with Uber in conducting a safety workshop for Uber drivers. It was to make rides safer and more secure for driver-partners and riders as a form of value-added service to Uber partner drivers.

NIA to Sanctions Defaulters on NIID Motor Policy

Sanctions await underwriting companies that fail to upload sold motor policies on the Nigerian Insurance Industry Database (NIID), that would allow policyholders to authenticate their policy, Nigerian Insurer Association (NIA) has warned.

The NIID is an information technology-based system that facilitates easy collation and dissemination of statistical and other information relating to insurance. It also serves as a platform for easy identification of genuine insurance documents by relevant authorized persons.

AXA Mansard Launches new life insurance TVC #StayInThePicture

AXA Mansard has launched a new brand campaign entitled “Stay In The Picture”. This is a through-the-line campaign including a television commercial, online video, massive out-of-home advertising, print advertising and product advertising.

Insurance Claims Rise Faster Than Premium Income

THERE are indications that insurance companies are groaning under the weight of a surging claims portfolio as more risks crystallize, despite efforts to stem the tide. ADVERTISING ADVERTISING The latest financial reports of leading insurers show an escalation of claims volume, rising faster and overshadowing the growth recorded in premium income. The industry’s total Gross Premium Written, GPW, grew by 12.4 percent to N226.8 billion against N201.7 billion recorded in 2017.