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Home Business News

Niger Insurance Plc reacts to NIA expulsion

Chidinma Anyalewechi by Chidinma Anyalewechi
July 1, 2021
in Business News
Niger Insurance Plc reacts to NIA expulsion
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The Board and Management of Niger Insurance Plc has put out a public notice addressing the publication of the Nigerian Insurers Association (NIA) regarding the expulsion of member companies who were allegedly not meeting obligations to policyholders of the companies.

The notice which was addressed to the public and the NIA stated that the company had paid out the sum of N1.16 billion to policyholders as claims from 2020 to date. It further stated that the company plans to liquidate some of its real estate assets to help meet its obligation and further alleviate the plight of policyholders.

The notice further explained that the company has created a customer engagement forum in a bid to address customer concerns, complaints and enquiries especially on the present status of the company and the management’s initiatives.

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The company has assured the public and its policyholders that it is currently in talks with the Association to resolve the issue at hand as it is in the interest of all associated parties. Niger Plc has further guaranteed it will remain a responsible and committed corporate organization as it ensures that all obligations especially in the areas of claim payments are met according to the provisions of the insurance practice.

Backstory

On June 23, 2021, the Nigerian Insurers Association (NIA) issued a public notice published in a national newspaper announcing the expulsion of three of its member companies.

The publication, which was approved by the Governing Council of the NIA, stated that the insurance firms were expelled for failing to meet their obligations to policyholders thus negating the principles of insurance. These obligations could be the delay or refusal to make claim payments or honour discharge vouchers to policyholders.

The three companies that were affected are:

  • Industrial and General Insurance Ltd (IGI);
  • Niger Insurance Plc, and;
  • Standard Alliance Insurance Plc.

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Tags: Niger InsuranceNigerian Insurers Association (NIA)
Chidinma Anyalewechi

Chidinma Anyalewechi

For further inquiries about this article, contact: Email: chidinma.anyalewechi@nairametrics.com LinkedIn: linkedin.com/in/chidinma-anyalewechi-a323ab173/

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Comments 4

  1. Chigozie Innocent Obioha says:
    July 1, 2021 at 6:17 pm

    NIA is actually right. Niger Insurance is a mess, i have not received payment of claim on my surrendered policy since 5th September 2019.You call their line, an irritating office with an annoying accent picks up and said the person that would attend to you is not on seat. After that no one else will answer the phone.
    I am a living withness to their illegal activity of non complying with their contract with policy holders. My name is Chigozie Innocent Obioha with surrendered policy number S25070. I am waiting and in need of a lawyer to sue the hell out of then.
    NAICOM is also useless to allow the organisation to still operate in Nigeria.

    Reply
  2. Ajuwa Kate Anwuli says:
    July 9, 2021 at 3:11 pm

    NIA your right Niger insurance plc has destabilize majority of people. My claim matured since September 2018 up till now I haven’t gotten my money, whenever I visit their Anthony office and head office the security personnels will not allow you in to their office to even to talk to someone. It is frustrating, someone’s sweat will just go like that

    Reply
  3. Ajuwa Kate Anwuli says:
    July 9, 2021 at 3:14 pm

    My name is Ajuwa Kate
    This is my details
    Name; Ajuwa Kate Anwuli.
    Policy No: PO9124
    AMT:. …..#376,135.59
    Bank: GTB 0016024868
    Matured September 2018.
    I haven’t been paid.

    Reply
  4. Ajuwa Kate Anwuli says:
    July 9, 2021 at 3:18 pm

    My name is Ajuwa Kate ANWULI
    This is my details
    Name; Ajuwa Kate Anwuli.
    Policy No: PO9124
    AMT:. …..#376,135.59
    Bank: GTB 0016024868
    Matured September 2018.

    Thank you and remain blessed.

    Reply

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