In its continuing efforts at ensuring adequate protection of policyholders and insurance consumers over settlement of genuine insurance claims, the National Insurance Commission (NAICOM) successfully facilitated claims payment of over N2billion in 2013.
A breakdown of settled cases:
1 Crystalife Assurance \ Federal Medical Center Owo /Group life 7,795,980.00
2 Lasaco/ Int’l Insurance Brokers Fire 33,949,709.39
3 NEM Insurance \Dominion SBJ Elite trust Insurance Brokers 1,041,622.20
4 Niger Insurance/ Fair Plus int’l Limited Motor Vehicle 5,745,100.00
5 NICON Insurance / Dr. Olanrewaju Vehicle 560,075.34
6 Union Assurance/ Okeke Udochukwu Maturity Benefit 542,075.34
7 Leadway Assurance/ NURTW Motor vehicle 397,290.00
8 Equity Assurance /NURTW Motor vehicle 48,780.00
9 STACO Insurance /NURTW Motor vehicle 397,290.00
10 AIICO Insurance /Young Bourdillon Ditimiya Motor vehicle 1,200,000.00
11 Unity Kapital/ Aura Loss Adjusters Non payment of fees 128,440.90
12 Crystalife & Capital Express/ Bauchi State Government Group Life 214,113,484.84
13 IGI Mr. Ogun Michael Life policy 361,061.00
14 Law Union & Rock /Charles Mekwunye & Co. Motor 752,142.86
15 Standard Alliance/ Pastor Ayo Oluwatosin Motor 3,304,800.00
16 Sovereign Trust/ Opeba Company Nig. No payment of fees 2,000,000.00
17 Oceanic Insurance/ Express Discount House Motor 2,078,800.00
18 Aiico Insurance/ Kayode Isaac Ogunola 2,342,300.00
19 Aiico Insurance / Samuel Salako 311,000.00
20 Mayfair Insurance Brokers /Mutual Benefit Assurance Plc Non remittance of premium 2,000,000.00
21 ADIC Insurance/ Burglary Hennadis Nigeria & Co Burglary 4,261,624.23
22 Standard Alliance/ Umeneri Emmanuel Emeka Maturity benefits 354,516.20
23 A&G Engr. O. Oyelola Maturity benefits 685,325.71
24 IGI/ Dr. Umoru Benjamin Motor 540,000.00
25 AIICO Insurance Plc /Upper Room Theft 6259,843.86
26 Finsurance Plc / Odengene Air shuttle service Limited (part payment) Aviation 60,154,223.98
27 Standard Alliance /Afro Asia Garden Fire 705,173.99
28 Standard Alliance /Engr. Olufemi Falano Maturity benefit
29 AIICO Insurance Co./ Emmanuel Dunu Nonpayment of Commission 50,000.00
30 Mutual Benefit /Ojeifoh Okosun Maturity Benefit 844,204.42
31 AIICO Insurance co /Olaniyi Temitayo 52,000.00
32 Guinea Insurance /Standwell Int’l Co. Nonpayment of Commission 500,000.00
33 Finsurance /Top quality Fire 66,133,400.00
34 Linkage Insurance& Royal exchange Top quality Fire 66,133,400.00
35 Linkage/ Mr. Akinbami Motor vehicle 33,066,700
36 Standard Alliance/ Ofoegbu Mahakwe Investment 246,361.56
37 Custodian & Allied/Omowunmi Abosede Wale Theft 400,000.00
38 IGI/ Dominic Daniel Maturity Benefits 3,695,871
39 Financo Brokers/Adetanmi Victor Olumide Severence Benefits 200,000.00
40 UNIC/ Engr. Falano Olufemi Maturity Benefits 336,962.89
41 IGI/ Flash Multi Services Ltd Motor Vehicle 756,000.00
42 Standard Alliance /Edwin Mary Akwaeze Bond 5,000,000.00
43 Standard Alliance/ Ana Industries Marine 16,000,000
44 Finsurance /Finbank Insurance brokers Aviation 31,291,775.55
45 Mutual Benefits Assurance Life/ MT Stephen & Co Death Benefits 18,000,000
46 Consolidated Hallmark / Arizona Insurance Brokers Good in Transit 300,000
47 IGI/ Olamide Elias& co Death benefit 4,484,079
48 Standard Alliance Life/ Sadiq Adeshewa Wakilat Life 1,060,000
49 STACO/ Karina Tunyan (San) & Co Marine 55,939,800
50 Anchor Insurance / Karina Tunyan (San) & Co Marine 13,984,950
51 IGI / Karina Tunyan (San) & Co Marine 10,300,000
52 AIICO / Bassio Nig Ltd Good in Transit 5,000,000
53 NICON Insurance /ExonMobil Producing Nig Ltd Fire $9,906,619
54 African Alliance. Beatrice Chukurah Annuity benefits 101,798.74
55 IGI. Oparah Frankka Egolu Life 73,817.00
56 A&G /Micheal Abiodun Ayeni Endowent Not Stated
57 Niger Insurance / Lydam Ventures Maturity benefits 10,503,280.00
58 IEI/ Mosabu Investment Marine 15,000,000
59 Leadway Assurance/ Ibrahim, haruna hamma Motor vehicle 2,736,963.08
60 NEM Insurance plc /First & Foremost investment Ltd Motor vehicle 110,160.00
61 WAPIC Life Assurance / Messrs Adeniyi Adeyemi & Frank Odigie Commission 494,244.71
Ongoing Complaints
Adedeji Ashamu/ Wapic Insurance Plc Settled
Jimoh Akintola/ Equity Assurance Plc Settled
Flash Multi service Ltd/ Industrial & General Plc Settled
Bharmoss Ventures Nigeria Ltd/Law Union & Rock Insurance Plc ( subjudice)
Kunle Odufayo /Linkage Insurance Company Settled
Upperroom /Aiico Company Ltd Settled
Mosabu Investments/ IEI Settled
Luminium International Ltd / IGI Settled
Soji Consultancy / Standard Alliance Insurance Settled
Arizona Insurance Brokers Ltd / Consolidated Hallmark Insurance Plc Settled
Bayo Jacobs & Co / Leadway Assurance Plc Settled
Bassio Nigeria Ltd / Aiico Insurance Ltd Settled
Sunplast Industries Ltd / IGI & Elismon Insurance Brokers Ltd Settled
MT Stephen / Mutual Benefits Life Assurance Settled
Finbank Brokers Ltd /Linkage Assurance, Royal exchange, Staco Assurance, Finsurance, Sovereign trust, AIICO, Settled
By: Modestus Anaesoronye
