Life insurance is certainly one of the most important insurance you can ever purchase. Basically, it ensures your family is duly compensated financially, depending on your contract in your demise. However, life insurance has its intricacies and without the right information, you can end up spending way more than you could have. Therefore, in this […]
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Insurance premium in Nigeria explained – Meaning and everything you should know
Insurance is the transaction of exchanging money for risk transfer. When this transaction goes through, they compensate you should any damages come to your insured asset. Now, in a more professional statement; it means exchanging insurance premium for risk transfer. The money you pay to purchase insurance is called an insurance premium. In this article, […]
List of registered insurance brokers in Nigeria – 2024 updated
As you should already know, we cannot overstate the immense contribution the insurance industry has towards the growth and development of any Nation. As a matter of fact, the insurance business is the only existing business that helps to protect other businesses from potential risks. Furthermore, the insurance industry has a very organized structure with […]
Retail insurance in Nigeria – What you should know
The value of the insurance industry as a whole has been on an epic rise, largely contributing to the growth of the world’s economy. In Nigeria, the insurance industry is valued at around N300 billion, with over 50 insurance companies presently registered. Retail insurance is one of the strong arms of insurance, as it caters […]
Gross premium income in insurance explained
The gross premium income is essentially an income statement that shows the total sum that an insurer has earned from premiums. Basically, it does not include any sums that are not paid or will be paid outside those premiums. They are very important in determining the income of an insurer and do not take into […]
Co-Insurance in Nigeria – All You Should Know
The insurance industry has several concepts that are important you must familiarize yourself with. The advantages of understanding these concepts and how they work are very many. It updates you about how everything works in the insurance industry, but you will also be able to choose the right financial plan. In this article, the concept […]
Insurance Underwriters in Nigeria explained
The Insurance industry, just like the human body, is one with several parts. Each part has its specific functions and roles. In fact, when one part isn’t functioning well, the other is affected. In short, the insurance industry is a united one with several departments, all working towards the success of the industry. One of […]
Principles of Insurance
The purpose of getting yourself insured is to guarantee compensation for specified loss, damage, illness, or death. It is therefore important to get yourself saddled up enough to face any eventualities. And, when doing this, you must ensure to do it right. That is where the principles of insurance come in Unfortunately, many people dabble […]
Insurance agency – How it works in Nigeria
Although the topic of insurance might be common to people in the corporate world and even society, the question of what are insurance agencies and insurance companies could be hard to distinguish. Therefore, many can’t tell if an insurance agency is different from an insurance company, or which is better to go to for insurance. […]
Insurance Companies in Nigeria: Top Companies in 2024
Insurance is an important service that helps to protect yourself, your business, and your family against unexpected events. However, as much as you don’t want these events to happen, the fact is, you cannot avoid them, which is why they refer to them as unexpected. But, the good news is, whenever they happen, insurance promises […]