The recent increase in motor insurance premium in Nigeria has jolted many motorists and other vehicle owners into paying attention to their rights and benefits. Some policyholders told BusinessDay that they would no longer take for granted their claims on their contract with insurance companies after they have been compelled to pay the new premium […]

read more Higher motor insurance premiums spur Nigerians’ interest in claims

The brokerage fraternity of the country’s insurance industry has confirmed the growing acceptance of the new premium rate for motor insurance, which became effective January 1, 2023. According to them, larger proportion of the consumers appreciates the reason for the increment considering the rate of inflation and impact on cost of assets replacement. They believe […]

read more Brokers confirm customer’s acceptance of new motor premium rates

Nigerian motorists travelling within the West African sub-region with recently adjusted premium rate for Third-party motor insurance will enjoy the benefit in the event of an accident, the Nigerian Insurers Association (NIA) said. For instance, a registered Nigerian vehicle with third-party motor insurance is covered when in and around any of the West African countries, […]

read more Third party motor insurance: Across West Africa you are covered – NIA

The Insurance Consumers Association of Nigeria (INSCAN), an affiliate of the Federal Competition and Consumers Protection Commission of Nigeria (FCCPC), has called on the National Insurance Commission (NAICOM) to reverse its directive on increasing third-party motor insurance premiums in Nigeria from N5,000 to N15,000, a 200 percent increase. The association demanded that the increment be […]

read more Insurance consumers reject 200% increase in third-party motor premiums

Leading insurance company, Heirs Insurance Limited (HIL), has bagged the award for the most outstanding female-centric insurance product of the year for its inclusive ‘Her Motor insurance’ plan for women. Presented at the 2022 edition of the Women in Marketing and Communications Conference and Awards (WIMCA) in Lagos, the award demonstrates HIL’s promise to be […]

read more Heirs Insurance bags award for promoting female-centric insurance product