Insurance

The National Insurance Commission (NAICOM) and the Securities and Exchange Commission (SEC) have agreed on the need to collaborate in the supervision and regulation of insurance companies quoted in the Nigerian Stock Exchange (NSE).

THE current challenge of flood disasters ravaging some parts of the country may constitute a great setback for Market Development and Restructuring Initiatives (MDRI) meant to deepen the sale of insurance products in Nigeria.

Claims worth over N600 million were paid by Consolidated Hallmark Insurance (CHI) at the end of third quarter, ending September 2012, to meet policyholders’ expectation, the company has said.

THERE are indications that the Nigeria Insurers Association (NIA) is yet to disburse the over 500,000 electronic gadgets meant to detect fake motor insurance policies to the security agencies as it promised three months ago.