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Posts matching Insurance

Guidelines for Oil and Gas Insurance Business

2016-12-20 12:33 PM | by Nigeria Compliancehub

The National Insurance Commission has the primary responsibility for regulating insurance business in Nigeria and is collaborating with the Nigerian Content Development and Monitoring Board (NCDMB) to ensure compliance with relevant provisions of the Nigeria Oil & Gas Industry Content Development Act 2010 and other laws relating to insurance.

This Guideline… Read more

Insurance Premium Collection and Remittance

2016-12-20 4:57 PM | by Nigeria Compliancehub

The regulatory body (NAICOM) has developed a guideline on premium collection and remittance as a result of growing challenges arising from huge levels of outstanding premium reported in the financial statement of insurance companies has prompted the need for this guideline Read more

Insurance Act

2016-12-20 6:15 PM | by Nigeria Compliancehub

This Act applies to all insurance business and insurers, other than insurance business carried on or by insurers of the following description- (a) a friendly society that is an association of persons established with no share for the purposes of aiding its members or their dependants where… Read more

Guidelines on Insurance Premium Collection and Remittance

2016-12-21 12:16 PM | by Nigeria Compliancehub

In order to protect of the policy holder and other stakeholder from the negative consequence of the existing practice, insurance operators are required to comply with the Guidelines on Insurance premium collection and remittance. These Guidelines state the rule and procedure which Insurance operators must comply with when… Read more

Guidelines on Life insurance Policy for Employees

2016-12-21 7:52 PM | by Nigeria Compliancehub

For the purpose of establishing uniform set of rules, guidelines and standards in relation to the application of the provisions of Section 9 (3). The Guideline states the minimum requirement, the eligibility of Insurance company, policy coverage, document requirement, operational terms, settlement of claims for life insurance  for… Read more

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