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    • Africa
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    Billionaire businessman Aminu Alhassan Dantata dies at 94

    Billionaire businessman Aminu Alhassan Dantata dies at 94

    Israel and Iran agree on ceasefire – Trump

    Israel and Iran agree on ceasefire – Trump

    Breaking: Iran launches missiles at US bases in the Middle East

    Breaking: Iran launches missiles at US bases in the Middle East

    US military strikes Iran

    US military strikes Iran

    EFCC seeks transfer of Orji Uzor Kalu’s trial to Lagos

    Yahoo boys launder money for ‘politically exposed persons’ – EFCC boss

    Gombe receives N60 billion from FG to establish Agro-Livestock Industrial Zone

    Gombe receives N60 billion from FG to establish Agro-Livestock Industrial Zone

    Student Loan Act: How to apply for the loan, all you need to know

    The increased prices of driver’s licenses, number plates set to take effect

    Trump congratulates Nigeria for Banning Twitter, says more countries should do same

    Trump bans citizens of 12 countries from entering the U.S, full list

    France launches mandatory online visa appointments for travelers

    France launches mandatory online visa appointments for travelers

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    • Economic Data
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    • Companies
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    Ellah Lakes Plc announces EGM to approve N250 billion capital raise, debt to equity conversion

    Ellah Lakes Plc announces EGM to approve N250 billion capital raise, debt to equity conversion

    AGM suspension: Oando’s shareholder wins court case against SEC

    Oando Plc reports N113 billion profit after tax for Q1 2025 amid N165.6 billion tax credit

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    List of Dividends announced in 2025, qualification and payment dates

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    FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

    Zenith Bank to exit CBN forbearance restriction end of June, confident in dividend payments

    FY 2020: FCMB Group Plc gross earnings, profit, assets see double-digit growth rates

    FCMB Group Plc addresses CBN’s forbearance loans directive, details capital management plans

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    Renaissance Capital names banks affected by CBN’s dividend payout suspension

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    Dangote Petroleum Refinery to begin distribution of PMS and Diesel nationwide

    United Capital Plc receives FMDQ approval to increase size of Commercial Paper programme

    United Capital Group expands into Francophone West Africa

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    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin crosses US$60K, approaches All-Time High

    Bitcoin (BTC) rises above US$80,000

    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

    NGX RegCo suspends Trading of Oando Plc shares

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    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

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Having Issues with your Insurance Provider in Nigeria?

Monday, 14 June 2021, 6:10 pm
in Business, Industry
0
Having Issues with your Insurance Provider in Nigeria?
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The National Insurance Commission (NAICOM) has called on anyone having issues with their Insurance provider to either call them or submit a complaint.

The call was made on its website monitored by Investogist. By clicking on the message, it takes the visitor to a new page where one can submit a complaint.

The new page reads;

Are you a Policy Holder or a New Customer and you have a complaint regarding your insurance provider. Submit your complaint here and we would process it and get back to you.

The form asks for basic information such as Name, Email. Phone no, Policy No and a box to fill in the complaint.

To make a complaint, click on this link.

Punch Nigeria earlier today reported that NAICOM is ensuring that defaulting insurance companies pay all their outstanding claims.

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According to the report, Mr. Sunday Thomas, The Commission for Insurance said some of the defaulting insurance companies with huge liabilities and unable to meet up with their claims obligations had already put up their assets for sale to comply with NAICOM’s order to pay their claims.

The commission noted that there were expectations that it should revoke the licences of non-performing insurance companies. He added that this was not the best decision to take as of now.

“Probably the best we can do now is to see how much we can recover to pay what proportion of the liability, when the company still has the potential of coming back to pay all its liabilities,” he said.

He went on to say that some of the defaulting companies had already put up some of their assets for sale but has not been able to get buyers.

The inability of some of these insurers to get buyers for their assets is why NAICOM is insisting that the Insurance companies must bring cash into the company and not just come and say they have recapitalised.

“After the recapitalisation, can you meet your obligations? These were some of the things that we were looking. A couple of claims have been paid by these companies.”

He said the commission was placing claims defaulting underwriters and technically insolvent companies under observation.

Inability of Insurance companies to pay claims to their policy holders is a huge problem in Nigeria, and has contributed to the near ZERO trust in the industry.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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