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News
NAICOM, NCAA Sign MoU to Tighten Aviation Insurance Oversight
3+ day, 23+ hour ago (416+ words) streamlinefeed.co.ke The National Insurance Commission and the Nigeria Civil Aviation Authority signed a memorandum of understanding on Wednesday, September 9, at the NCAA headquarters in Abuja, tightening oversight of aviation insurance compliance and establishing a Joint Technical Committee on…...
ASIC confirms investigation into collapsed Sphere Insurance Group
3+ day, 20+ hour ago (374+ words) "ASIC can confirm that it has commenced an investigation and has engaged with the liquidator in connection with that investigation," an ASIC spokesperson told Insurance Business. Read next: ASIC issues warning to AFS licensees ASIC declined to say whether it…...
$2.6 Billion in NFIP Subsidies Remain Five Years into Risk Rating 2.0, Neptune Flood Research Group Analysis of FEMA Data Shows
4+ day, 7+ hour ago (171+ words) 42% of policyholders still pay below full-risk price; the remaining discount is concentrated in Florida, non-primary homes, and high-value properties, and is on track to phase out by the late 2030s “Risk Rating 2.0 is doing what it was designed to do, and…...
NICON Rejects NAICOM Licence Revocation, Insists It Remains A Going Concern As Legal Battle Looms
5+ day, 21+ hour ago (857+ words) NICON rejects NAICOM’s licence revocation, calls recapitalisation exercise “fake and fraudulent” and says the dispute is before court. National Insurance Commission (NAICOM) has revoked the operating licenceof NICON Insurance Limited and appointed a Receiver/Provisional Liquidator to take control of…...
NAICOM Revokes NICON Insurance Licence, Appoints Receiver
6+ day, 9+ hour ago (592+ words) The National Insurance Commission (NAICOM) has revoked the operating licence of NICON Insurance Limited, bringing to an end the operations of one of Nigeria’s oldest and historically significant insurance companies. The regulatory action followed the company’s failure to satisfy prescribed…...
Dip in numbers of consumers with health insurance, watchdog data reveals
6+ day, 2+ hour ago (404+ words) For the first time in more than six years the number of people with private health insurance has fallen marginally, quarterly data from the sector’s watchdog has shown. The Health Insurance Authority’s (HIA) latest quarterly bulletin said that while there…...
NICON Insurance Licence Revoked as NAICOM Appoints Receiver Manager
6+ day, 18+ hour ago (218+ words) Nigeria’s National Insurance Corporation of Nigeria (NICON), long regarded as one of the country’s major insurance firms, has lost its operating licence. The National Insurance Commission (NAICOM) has revoked the company’s certificate of registration and placed it under the control…...
NAICOM Revokes NICON Insurance Licence, Appoints Receiver Manager
6+ day, 16+ hour ago (506+ words) The National Insurance Commission, NAICOM, has revoked the operational licence of the National Insurance Corporation of Nigeria, NICON Insurance, and appointed a Receiver and Provisional Liquidator to take over the affairs of the company. The regulatory action effectively places the…...
NAICOM cancels NICON Insurance licence, appoints Ume as Receiver/Liquidator
1+ week, 13+ hour ago (473+ words) National Insurance Commission (NAICOM) has cancelled the operating licence of NICON Insurance Limited and appointed Senior Advocate of Nigeria, Chukwuma Machukwu Ume, as Receiver/Provisional Liquidator of the company. The regulatory action involves the cancellation of the company’s Certificate of…...
The Rideshare Passenger's Blind Spot: Whose Insurance Actually Covers You When Your Uber or Lyft Crashes
1+ week, 1+ day ago (456+ words) PHILADELPHIA, PA – You’re in the back of an Uber, half-watching the map, phone in your lap. The driver turns left a beat too late, the SUV in the next lane doesn’t stop, and now you’re a passenger in a crash…...