{"id":7442,"date":"2013-07-31T15:40:41","date_gmt":"2013-07-31T15:40:41","guid":{"rendered":"http:\/\/disnaija.com\/nigerian-newspapers\/no-premium-no-cover-has-increased-insurance-industry-earnings-operator\/"},"modified":"2013-07-31T15:40:41","modified_gmt":"2013-07-31T15:40:41","slug":"no-premium-no-cover-has-increased-insurance-industry-earnings-operator","status":"publish","type":"post","link":"https:\/\/disnaija.com\/no-premium-no-cover-has-increased-insurance-industry-earnings-operator\/","title":{"rendered":"No Premium No Cover\u2019 has increased insurance industry earnings \u2013 operator"},"content":{"rendered":"
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The Executive Director, Business Development, Mutual Benefits Assurance Plc, Mr Gbenga Ogunko said that the \u2018No Premium No Cover\u2019 policy has increased the fortune of the insurance industry.\u00a0Ogunko said at a press briefing in Lagos that since the implementation of the policy on Jan. 1, 2012, the number of policyholders had increased.\u00a0The News Agency of Nigeria (NAN) reports that the policy was introduced by the National Insurance Commission to check non-payment of premium\/bad debt in the industry.<\/p>\n

According to Ogunko, the implementation has created much insurance awareness among Nigerians.
\u201cNo Premium No Cover\u2019 is beneficial to the industry. Before Jan. 1, operators were not sure whether the policy would work, but now, many companies are smiling to the banks.
\u201cIt shows that insurance has come of age. Now, people pay premium and are doing it joyously,\u201d he said.
Ogunko said that more people were realising that insurance could serve as a useful tool to check losses.
The executive director said that the industry had also created more awareness on how to obtain a third party policy.
According to him, some policyholders have also benefited from huge claims from insurance companies.
Ogunko said that insurance premium was scientifically fixed, and that insurance business revolved around a pool of funds. (NAN)<\/p>\n

The post No Premium No Cover\u2019 has increased insurance industry earnings – operator appeared first on Peoples Daily Newspaper, Nigeria.<\/p>\n

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Source: People’s Daily Newspaper<\/p>\n

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