INTRODUCTION Insurance premium is the amount on money usually chargeable by insurance companies on individuals and companies for an insurance policy subscription. It is the payment one makes so as to enjoy the protections in the insurance policy he buys. It represents the income of the insurance company. And equally as evidence that there exists…
Insurance Companies in Nigeria has paid no fewer than N11bn in claims by policyholders arising from the damages they suffered as a result of the ENDSARS protests that hit the country in 2020. This was revealed by the Chairman, Nigeria Insurers Association ( NIA),Mr. Ganiyu Musa, during the Annual General Meeting of the Association in…
MEANING OF ACCIDENT Accident means any unintentional and involuntary injury to the human body. It usually results from external cause which affects physical, mental or psychological wellbeing and sometimes results in death. An accident can occur in the course of a professional activity. It can take place during breaks, before or after work. In which…
INTRODUCTION Farmers insurance is a category of insurance contract. It is the type of Insurance Policy that serves as a risk management tool for farmers. This is done through the provision of financial protection to them against loses. These losses may emanate from incidents such as drought, flood, hail, pests, wildlife and even fire outbreaks….
It is no longer news that dental insurance is often different from medical insurance. The reason for the above has links to the fact that all along, the dental and medical fields have always been at difference from one another. And for this reason, insurance companies see dental insurance differently from medical insurance. However, the…
MEANING OF PUBLIC LIABILITY INSURANCE Public liability insurance is a class of insurance policy that covers and affords protection against damages and injuries done to third parties and/or their businesses. These damages include deaths, personal injuries and loss or damage to property. These damages may include costs of legal actions incurred by third parties in…
The above question, will life insurance cover suicide? constitutes a reoccurring decimal in the mind of Policyholders. And even for insurance companies. Generally, life insurance will not cover suicide. However, there are exceptions to this general rule and which we are going to discuss under here. But let’s look at the meaning of suicide. Suicide…
INTRODUCTION Renters insurance in a nutshell has to do with an insurance policy that protects your personal properties as a renter of residential accommodations or commercial premises. Most people tend to use homeowners insurance and renters insurance interchangeably but it is not to be as they are not entirely the same. While renters insurance applies…