Financial inclusion via insurance
Francis Ewherido
August 1, 2018
From July 8 – 10, insurance professionals gathered in Abuja, the nation’s capital. Uppermost in their minds was how to increase insurance penetration and in the process increase the number of Nigerians, who have one form of insurance or the other. Currently, only about one percent of Nigerians have any form of insurance and I […]
Benefits of travel insurance
Francis EwheridoJuly 23, 2018
I had a good laugh at myself recently, I was going through old documents that I used to apply for a visa 10 years ago and stumbled on the travel insurance. Even as an insurance professional, I cannot remember paying any attention to it then. I was only interested in completing my documentations for the […]
Uberimma fides (FIDEI)
Francis EwheridoJuly 16, 2018
After a couple of weeks’ interruption, we shall continue with our discussions on the six principles of insurance today. In those days, I used to see “Caveat Emptor” on the walls of buildings and sometimes underneath, there is a suit number. I knew it had something to do with the courts. I also knew caveat […]
Householder insurance
Francis EwheridoJuly 9, 2018
The rains are here, so are the storms, floods, etc. Even fire, which you do not expect to be rampart during rainy season, has occurred with the regularity of dry season in the past few weeks. This is a wakeup call for families to take up a Householder Insurance Policy. A Householder Insurance Policy is […]
That tanker fire disaster
Francis EwheridoJuly 2, 2018
During the peak hours of last Thursday’s evening, a 33, 000-litre tanker, laden with PMS (petrol), exploded on Otedola Bridge along the Lagos end of the Lagos-Ibadan Expressway. As at the time of writing, nine charred bodies had been recovered, while 54 vehicles were reportedly burnt. My condolences to the families of those who lost […]
Azare: One market fire too many
Francis EwheridoJune 25, 2018
On Sunday, June 17, a fire outbreak consumed about 700 shops in Azare market in Katagun Local Government Area in Bauchi State. Goods and properties running into hundreds of millions of Naira were destroyed. This fire is by no means an isolated case. There has been fire outbreaks in Singa Market and Sabon Gari Market […]
INSURABLE INTEREST
Francis EwheridoJune 19, 2018
If you have ever watched the television series, Crime and Investigation, you would have seen episodes where a spouse took out life policy on his/her wife/husband. A couple of months later the wife/ husband died. If the death was natural or accidental or it was proven that the spouse had no hand in it (which […]
Indemnity
Francis EwheridoJune 11, 2018
When this column started, I explained that insurance is built on six principles: indemnity, insurable interest, proximate cause, subrogation, contribution and utmost good faith. Last week, we treated subrogation, albeit not exhaustively, but as it relates to claims. Today, we are going to treat indemnity as exhaustively as our limited space will allow us. Indemnity […]
Claims and subrogation
Francis EwheridoJune 5, 2018
FOUR WEEKS AGO, we looked at the steps to follow in the event of an incident leading to a claim. Today, we are going to look at a practical case on claims procedure and one of the principles of insurance, subrogation. A client called me on Wednesday evening. A careless lorry driver hit his jeep from […]
Fidelity Guarantee insurance for individuals
Francis EwheridoMay 28, 2018
Fidelity Guarantee insurance is an insurance policy designed to protect the policyholder against the loss of money or property sustained as a direct result of acts of fraud, theft or dishonesty by an employee in the course of employment discovered during the currency of the insurance or termination of employment of the employee, whichever shall […]