Ewherido

I had my book presentation on May 5, 2019. While we were preparing the outer space for the red carpet and welcome cocktail, I told the hall decorators to remove the rug from a section of the floor. They did not have gum to stick the edges of the rug to the floor and I was […]

Last Monday the Minister of Labour and Productivity, Dr. Chris Ngige, inaugurated the Board of Nigeria Social Insurance Trust Fund with Prince Austin Enajemo-Isire, a seasoned chartered accountant, insurance practitioner and banker, as the chairman of the board. In theory NSITF carries enormous responsibilities, but the verdict of the jury out there on the performance […]

In theory, there are four types of motor insurances (Acts Only, Motor Third party, Third Party, Fire and Theft and Comprehensive), but in practice, only three are operative. Acts Only has been consigned to the dustbin of history for a long while now. The most common of the three operative motor insurances is Motor (Third […]

The traffic in Lagos has been hellish in the last few weeks. We were in the traffic the other day when a driver threatened to disfigure another driver’s face with blows if he hit his vehicle. And then I said to myself, if you disfigure his face, he will get you sued for assault and […]

Happy Easter to you all; we are in another festive season. Festive seasons in Nigeria lead to a lot of activities. People travel, do lots of cooking and also receive more visitors. These activities carry with them elements of uncertainty. Where uncertainty exists, risks dwell and where there are risks, insurance has been created to […]

Deepening insurance penetration in Nigeria requires both short term and long term measures. On the long term, we need to start creating insurance awareness among young people. It is with this in mind that the Lagos Area Committee (LAC) of the Nigerian Council of Registered Insurance Brokers, as part of its corporate social responsibility, went […]

Some policy holders do not know anything about reinsurance. They have probably not heard the word before. In truth, they do not really have any business or interaction with reinsurance, so you can excuse them if they are ignorant of reinsurance. Insurance is a risk transfer mechanism as well as a tool for spreading of […]

At least on two occasions since the Independent National Electoral Commission declared him winner of the last presidential elections, President Muhammadu Buhari, has said the economy will be one of his focal points during his second term. It is good to hear that, but any attempt to improve the economy must include deliberate efforts at […]

Many people like hoarding knowledge and information. They do not realise that they are doing more harm than good to themselves. People who share knowledge naturally want to acquire more so that they can have more knowledge to share. In the process, they grow in knowledge, confidence and stature because knowledge is power. On the […]

 I read a report recently where the writer was accusing the insurance industry of unwholesome practices in respect of motor (Third Party) insurance. He said insurance practitioners do not educate the insuring public of the benefits of motor (Third Party) insurance. He said all we do is collect premium and keep quiet on the benefits. […]