Monthly Archives: September 2015

Insurance coverage sector to institute very own committee

There are indications that the National  Insurance coverage Commission, NAICOM, is putting modalities in spot to institute an Insurance Committee for the sector just like the Bankers Committee of the banking sector.

In accordance to Vanguard investigations, the Insurance coverage Committee when instituted is anticipated to serve as a platform for typical interaction between the regulator and operators and any choice emanating from such interaction is deemed binding on insurance practitioners.


The Bankers’ Committee is a standard and compulsory meeting between the Central Bank of Nigeria (CBN) and all the managing directors of industrial banks working in Nigeria.

An insurance operator who spoke on the situation of anonymity mentioned, “For the initial time, the Commissioner for Insurance coverage will institute an insurance coverage committee related to the Bankers Committee. With such in spot we expect to see more optimistic engagement and modify in the sector since we will have a platform in which our regulator sits with us the operators and we consider decisions with each other and absolutely everyone assures that all agreements are implemented. The Bankers Committee is what provides bankers the edge over other sectors because they sit with and engage the Central Bank of Nigeria, CBN.

Positive engagement

At this kind of meetings, ideas are analysed, sometimes they are giving to committees to go and examine and report back and exactly where selections are taken, the CBN then assures that they are implemented for the all round curiosity of the banking sector.

“So I think that with optimistic engagement with the regulator through the insurance committee, the insurance market will witness important adjust,” the operator stated.

Recall that in 2013 the Insurance Sector Consultative Committee, IICC, was inaugurated by Mr. Fola Daniel, Commissioner for Insurance coverage then. However, the goals of the IICC is to represent the industry’s voice in nationwide and international discourse promise a collective medium for dialoguing offer a clearing house for vital sector policies engender a firm anchorage for insurance coverage market growth agendas constitute a potent lobby group for governmental relations, and act as veritable instrument for conflict resolution.

Membership of the IICC consists of representatives of NAICOM, Chartered Insurance coverage Institute of Nigeria, CIIN, Nigeria Insurers Association, NIA, Nigerian Council of Registered Insurance Brokers NCRIB, Institute of Loss Adjusters of Nigeria, ILAN, as effectively as distinguished elders and leaders of the insurance business.

The IICC meets quarterly to deliberate on emergent concerns and to foster its objectives. The committee is chaired by the sitting President of CIIN.

Skoda Insurance coverage – Examine Skoda Estimates On the web –

  • Established – 1895 as Laurin & Klement
  • Headquarters – Mladá Boleslav, Czech Republic
  • Products – Autos
  • Manufacturing output – 949,412 units (2012)

Skoda Automobile, far more generally referred to as Skoda, is a automobile producer primarily based in the Czech Republic, which grew to become wholly owned by the Volkswagen group in 2000. Its goods are offered around the world, except for North America.

After numerous victories in decrease amounts of motorsport, Skoda started participating in the FIA Globe Rally Championship in 1999 with the Skoda Octavia. Their ideal outcome in the Octavia in the course of the WRC was Armin Schwarz’s third area in the 2001 Safari Rally.

These days, Skoda is a brand known for elegant automobiles, reliable engines and clever promoting, the mixture of which have aided transform it into the achievement we see these days.

Discover Steve scavenger hunt competitors terms and conditions –

1. The promotion is open to residents of the United Kingdom, excluding employees and their immediate families of, the Admiral Group, their companies or anybody else professionally linked with this promotion.

2. Entrants should be 18 years old or over.

3. The promotion starts at 1200 hrs on the 26th September 2012 and closes at 2359 hours on 13th November 2012.

4. Every week you will be provided a clue that leads to a code letter or number on our scavenger hunt web page . The competitors web page will be up to date every single week with a new clue, and the clues from prior weeks will stay on the webpage. There are 6 clues in total, working over a 6 week period. After you have solved all 6 clues, you ought to have a word created up of these code letters/numbers.

5. To enter, you want to electronic mail us at with the code word, your full name and postal tackle (so we can send you your prize if you win).

6. Only 1 entry per man or woman. In the event of duplicate entries, only the 1st submitted entry will be deemed in the promotion.

7. No buy needed.

7 On November 16th 2012, a winner will be chosen at random from all the correct entries by a member of

9. There is a single prize, consisting of an iPad 2 with add-ons and a £50 iTunes gift card .

10. The prize winner will be notified by e-mail within 48 hours of the draw, using the e-mail handle supplied when entering the competitors.

eleven. If the promoter is unable to make contact with the prize winner inside of 14 days the prize will be forfeited. A new prize winner will then be picked by the judge from the remaining entries.

12. By coming into this promotion all participants will be deemed to have accepted and be bound by these terms and situations. All entry guidelines kind element of these terms and conditions.

13. Dropping entries will not obtain any notification.

14. The name and county of the prize winner will be accessible on request by sending a stamped self-addressed envelope to: Scavenger Hunt Competition, Floor 3, Greyfriars House, Greyfriars Road, Cardiff, CF10 3AL, soon after 16th February 2013.

15. In the occasion of unforeseen circumstances the promoter reserves the right to supply option prizes of equal or greater worth.

16. In all instances the promoter’;s selection is ultimate and no correspondence will be entered into. No funds option will be provided in complete or in element.

17. The prize winner might be needed to take portion in relevant publicity and this kind of participation is a issue of accepting a prize.

18. accepts no liability or responsibility for entries lost, delayed or undelivered, nor any liability for technical errors or communication failures in ne2rks and/or internet entry.

19. This promotion and these terms and circumstances of entry are governed by English Law and the courts of England and Wales shall have unique jurisdiction in excess of any dispute arising out of or in connection with this promotion.

Promoter: Restricted (trading as “”), Floor 3, Greyfriars House, Greyfriars Road, Cardiff, CF10 3AL.

Drivers unaware of rewards for excellent driving

– Virtually half of drivers have not heard of telematics, black box or shell out-as-you-drive engineering says –

  • MotorMate app launches on iPhone
  • 47% of drivers unaware of telematics or black box devices
  • 38% of drivers would take into account getting a telematics device in their vehicle
  • 29% of young drivers would have a device if it meant their dad and mom would pay for their insurance coverage!

The imagined of having a telematics device fitted to their auto may possibly be concerned some drivers, and several drivers have not even heard of Telematics technologies. However, has come up with a resolution: the ‘ MotorMate’ driving app which is now obtainable on Android and launched nowadays on iPhone to coincide with the launch of the iPhone 5. MotorMate enables drivers to check their driving behaviour by making use of their mobile phones GPS. The app assists drivers in finding out about telematics and how they can be rewarded for great driving. The app is totally free to download from Google Play and Apple’s App Keep.

With the introduction of telematics products, safe drivers could no longer have to pay out the identical large automobile insurance coverage value as somebody who drives like a ‘bat out of hell’. Telematics units, which check a driver’s skill and reward very good driving, are turning out to be more and more popular, in accordance to vehicle insurance authorities at comparison web site,, who now have numerous telematics providers on their panel and have their own telematics app. Nevertheless, new investigation also demonstrates that several drivers stay unaware that they could be rewarded for good driving.

Nearly 2 out of 5 drivers  (38%) say they would take into account obtaining a telematics gadget fitted in their automobile. However, virtually half (47%) of drivers  have informed that they are still unaware of the new telematics, or black box, products, which can minimize automobile insurance fees for cautious drivers. After they know about the boxes, saving money is a motivator for 86% of drivers, and deterring theft by utilizing a black box as a tracking gadget is a motivating issue for 43% of drivers .

What is telematics?
Telematics insurance coverage, Black box insurance coverage, Smart box insurance, Shell out As You Drive, Usage Primarily based insurance coverage (UBI) are all terms employed to describe the most recent generation of personalised auto insurance options based on your driving fashion. An increasing quantity of insurance suppliers are giving drivers a telematics gadget as a implies of reducing automobile insurance coverage premiums. The device is installed in your vehicle and the way you drive is reported back to your supplier. Responsible safe driving is rewarded by supplying reduced premiums that reflect that you represent significantly less risk to the insurer.

Youthful drivers are most very likely to consider getting the units fitted: forty.5% of 17-24 12 months olds say yes they would consider acquiring a telematics device fitted, in contrast to an total average of 38%.
What 17-24 year-outdated drivers told us:

  • 29% of youthful drivers would have a gadget fitted if it meant their mothers and fathers would shell out for their insurance
  • 15% of youthful drivers say their dad and mom already shell out for their auto insurance.
  • 19% would not have the device fitted even if their mother and father paid, as they would not like their mothers and fathers to see how they drive.
  • 43% of dad and mom whose children are young drivers would spend all or component of their child’s insurance coverage if they knew how and when they had been driving, 21% would contribute regardless.
  • Fathers are less very likely to contribute to their child’s automobile insurance than mothers (24% of men would not contribute in contrast with 21% of ladies)

Regionally, London has the least awareness of telematics:
Just 36% of drivers said ‘yes’ they have heard of telematics, black boxes or spend-as-you-drive technology, in contrast to a national average of 44% and just 34% of London’s drivers say they would take into account getting one of the boxes put in, as opposed to Northern Ireland exactly where a whopping 54% of drivers say yes to the idea of the gadgets.

Significantly far more males than girls (50% vs. 39%) have heard of this new technology, but interestingly a equivalent number of males and women would take into account getting the products fitted: 38% of ladies and 39% of men.

Joanne Garcia Head of Emerging Products at said: “Telematics offers drivers the opportunity to save money on vehicle insurance coverage. Even though the benefits are there for all drivers, it can be especially welcome to younger drivers contemplating that 17-twenty year olds are having to pay an regular of £2,491  for a comprehensive vehicle insurance policy.”

“Offering our clients our MotorMate app permits buyers to attempt the telematics knowledge without having possessing to commit. The app lets us reward our buyers for getting good drivers. By making use of the app, drivers can actually realize how they drive and more than time, improve their driving abilities, producing them a safer driver and hopefully making our roads safer as well.”

Kevin Clinton, Head of Street Security at the Royal Society for the Prevention of Accidents (RoSPA) stated: “RoSPA believes that driver telematics will turn out to be significantly a lot more widespread more than the subsequent few many years. Telematics can help people to considerably boost their driving and decrease their threat by identifying risky varieties of driving, such as sharp acceleration or braking, speeding and sharp cornering, and then offering advice to them on how to drive much more smoothly and securely. Using this inside an insurance policy that rewards drivers for safer driving provides a effective incentive for people to improve their driving expertise.”

Anybody interested in locating out far more about telematics can download the cost-free MotorMate app. Much more info right here:


Notes to Editors

The poll 2,000 drivers was carried out by OnePoll for in the United kingdom in the course of July 2012, all final results rounded up to the nearest one%.
As above
Drivers have been able to give more than 1 Auto Insurance coverage Value Index July 2012.

E mail or cellphone 07788310289
Or e-mail or cellphone 07551 005 877

About was the UK’;s 1st cost comparison website for vehicle insurance. is one particular of the UK’s most significant and most well-known price comparison companies. Launched in 2002, it generates above one particular million estimates per month. It has expanded its range of comparison merchandise above the last couple of many years to incorporate residence insurance coverage, travel insurance coverage, pet insurance, van insurance, motorbike insurance coverage, breakdown cover and power, as well as fiscal services goods which includes credit cards, loans, mortgages and lifestyle insurance. is not a supplier, insurance coverage firm or broker. It supplies an aim and unbiased comparison services. By using cutting-edge engineering, it has designed a series of intelligent world wide web-based answers that assess a number of threat variables to aid consumers with their determination-producing, subsequently discovering them wonderful bargains on a wide-assortment of insurance coverage merchandise, financial companies, utilities and a lot more.’s support is based on the most up-to-date details presented by United kingdom suppliers and business regulators. is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. is regulated by the FSA.

You could win an iPad two with equipment in our scavenger hunt –

Appropriate right here is the place to discover out all about the most current competitions from Whether or not we’;re offering away holidays, iPad’;s or funds prizes, you can discover out about our competitions, how you can get involved and see more info about our past competition winners.

Go to our special offers web page to find out the offers we have on at the second.

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Water buyer complaints fall –

*Based mostly on on-line independent analysis by Consumer Intelligence (February 2015). 15% could conserve up to £840.56. 60% could conserve up to £161.46. †10% of residence insurance coverage consumers saved at least £247.26 towards their previous renewal value (April – June 2015). Research carried out by Out of 523 respondents, 94.5% explained they would advocate to a buddy (November – January 2015).

Mortgage lending stays restrained –

*Based mostly on on the internet independent study by Client Intelligence (February 2015). 15% could save up to £840.56. 60% could conserve up to £161.46. †10% of house insurance customers saved at least £247.26 against their prior renewal price tag (April – June 2015). Research performed by Out of 523 respondents, 94.5% mentioned they would suggest to a buddy (November – January 2015).

Flood victims urged to claim swiftly –

*Based mostly on on the internet independent analysis by Buyer Intelligence (February 2015). 15% could conserve up to £840.56. 60% could conserve up to £161.46. †10% of home insurance customers saved at least £247.26 towards their earlier renewal price tag (April – June 2015). Research conducted by Out of 523 respondents, 94.5% stated they would advocate to a friend (November – January 2015).

Floods force hundreds from homes –

*Primarily based on on-line independent analysis by Consumer Intelligence (February 2015). 15% could conserve up to £840.56. 60% could save up to £161.46. †10% of property insurance clients saved at least £247.26 towards their preceding renewal price (April – June 2015). Study conducted by Out of 523 respondents, 94.5% said they would suggest to a pal (November – January 2015).

Autos washed away throughout downpours –

*Based on on the web independent study by Customer Intelligence (February 2015). 15% could conserve up to £840.56. 60% could conserve up to £161.46. †10% of house insurance coverage consumers saved at least £247.26 towards their previous renewal price tag (April – June 2015). Research carried out by Out of 523 respondents, 94.5% said they would recommend to a buddy (November – January 2015).