An area of challenge that has been observed in the adjustment of motor insurance claims is the inadequate understanding of the difference between the Policy Excess clause and the Contribution conditions in an insurance policy. Even among some insurance marketers, this two concepts are oftentimes misunderstood and therefore misconstrued. And this misunderstanding is further passed on to the insured by means of unintentional misrepresentation. Continue reading THE CHALLENGES WITH MOTOR CLAIMS ADJUSTMENT PART 2
Tag Archives: Insurance Policy
YOU DON’T NEED A SEPERATE FLOOD INSURANCE COVER!

The protection against flood damage is an integral part of any Fire & Special Peril Insurance Policy, Material Damage Insurance Policy and a Home Insurance Policy on a building and or its content.
This is often not amplified unlike the fire risk probably due to the fact that fire tends to create a more vivid image of danger and urgency than flood. Therefore many policy holders do not know that they can recover under their policy should they suffer a flood damage. Continue reading YOU DON’T NEED A SEPERATE FLOOD INSURANCE COVER!
Understanding Goods In Transit Insurance (Part 1)
Goods-In-Transit insurance policy (GIT) provides a cover for the insured against loss of or damage to goods following the perils of the road which could be an accident or armed robbery attack involving the conveying vehicle. Continue reading Understanding Goods In Transit Insurance (Part 1)
THE CHALLENGES WITH MOTOR CLAIMS ADJUSTMENT (PT.1)
Motor Insurance is about the most popular of all the various classes of insurance in Nigeria and understandably so. It is an everyday risk and the very nature of an automobile easily brings to mind the risks attached. Besides, in Nigeria, it is a criminal offense to drive an automobile without having at least a Third-Party Motor Insurance cover (read more on Third-Party Motor Insurance cover “here“). Continue reading THE CHALLENGES WITH MOTOR CLAIMS ADJUSTMENT (PT.1)
I WILL GO MILES FOR YOU…WILL YOU DO SAME?
Insurance is like a romantic relationship. As in the latter, the parties involved in the former also have their expectations, duties, responsibilities and rights for the relationship to be mutually beneficial.
As an insured, having suffered a loss which is covered by the policy, you have the right to seek compensation from the insurer. So also, the insurer, having compensated you, has the right to recover their outflow where there is a negligent third-party responsible for the loss. Continue reading I WILL GO MILES FOR YOU…WILL YOU DO SAME?