On travel, health insurances and COVID-19

The federal government ordered the decontamination of the Murtala Mohammed International Airport, Lagos, and The Nnamdi Azikiwe International Airport, Abuja, over two weeks ago. Even though there is still a ban on international flights and travels, and interstate travels as a result of the COVID-19 Pandemic, it is just a matter of time before the […]

RE: What insurers won’t tell you

I would not have bothered to do this rejoinder to the article with the above title by Mr. Azuka Onwuka in the Punch Newspaper of May 12, 2020, because he did a tremendous job for the insurance industry as a non-insurance professional. His article was very informative and largely accurate, but there are some inaccuracies, hence […]

Covid-19-heightened risks and insurance

Since the COVID-19 Pandemic hit our shores, with the attendant lockdown, many Nigerians have stopped earning income. For these Nigerians, they must go out every day before they can make money. Some other Nigerians are lucky; they can work from home and earn an income. But whether you earn or not, you must spend. That […]

Insurance: The lifeline of SMEs (2)

There are many other non-life insurances, depending on the nature of your business, but let us move away from physical assets and focus on human assets. It is widely acclaimed that the greatest asset of a business are the people (employees). Earlier we listed attracting and retaining skilled manpower as one of the challenges facing […]

Insurance: The lifeline of SMEs (1)

We all probably know what insurance is, but I will still put up some working definitions here so that we can all be on the same page. For our presentation today, let us look at insurance as a risk transfer mechanism where one party (policyholder or insured), after paying a specified amount (premium), transfers his […]

COVID-19: Insurance cover for health professionals

Last Sunday, a letter issued by the Government of Ghana surfaced in various insurance professionals’ social media platforms. In the letter, the government announced a special life insurance package for 10,000 Ghanaian health personnel and allied professionals tackling the COVID-19 pandemic in Ghana. The policy is a combination of group life, critical illness and employers’ […]

Insurance lessons from Ado Soba explosion

By last Thursday, the number of dead people from the explosion at Ado Soba, Abule Ado, in Amuwo Odofin Local Government Area of Lagos State, increased by one. It was an explosion of catastrophic proportion, which has so far sent 21 people to their early graves. It also left hundreds of others injured, while properties […]

Pouring ‘insurance water’ on stone?

Since the turn of the year, there have been at least 40 reported fire incidents. About half of these fires occurred in markets. In fact, by January 4, there were already five reported market fires. The number of fire incidents was such that NTA Good Morning Nigeria featured the topic for the second time in […]

LASG: Punish defaulters only

There is a trend, which is causing some vehicle owners a lot of heartaches and the Governor of Lagos, Mr. Jide Sanwo-Olu, needs to look into it. It is the punishment of INNOCENT vehicle owners caused by the use of the AUTHOMATIC NUMBER PLATE RECOGNITION (ANPR) CAMERAS on Lagos roads. Once the cameras capture the […]

Restoration, not profit making

Iran into a couple of guys recently. Once they realized I was an insurance professional, they said many beautiful things about the insurance industry. I was in dreamland until I was stung and brought back to reality. Both of them had claims – one, motor and the other, fire – which were promptly paid by […]