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Incentives to underwrite compulsory insurance

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Magazine Issue: 
The digital technology, a new battle field [3]
Magazine date: 
Oct 2016

The National Insurance Commission (NAICOM) has signed a memorandum of understanding with the different federated States designed to promote underwriting of compulsory insurance by customers. The commitment taken by each State is aimed at increasing insurance penetration rate and strengthening the market. There are five compulsory insurance schemes in the country: group life insurance, insurance for buildings under construction, public building third party liability, motor third party liability and employees' health insurance.

Meanwhile NAICOM is crafting a manual designed for the establishment of new distribution channels. The deficit currently sustained by the country in this area is disrupting insurance development.

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Thu, 17/11/2016 - 08:24

Source URL: https://www.atlas-mag.net/en/article/incentives-to-underwrite-compulsory-insurance

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[3] https://www.atlas-mag.net/en/issue/the-digital-technology-a-new-battle-field
[4] http://www.atlas-mag.net/en/article/the-insurance-industry-should-experience-a-recapitalization
[5] http://www.atlas-mag.net/en/article/satisfactory-results-for-africa-re-in-the-first-half-2016
[6] http://www.atlas-mag.net/en/article/second-edition-of-journalism-awards