Law Union & Rock Insurance Plc. has released more retail products to meet the need of its customers. The new products are travel insurance card and Teen Personal Accidents (TPA).
The Executive Director, Technical/Operations Mr. Olasupo Sogelola, said the introduction of the two products was part of the company’s strategic plans to meet the need of its retail customers.
According to him, the Teen Personal Accident otherwise called TPA was the company’s innovation, but has now been repackaged in four variants with premium ranging from as low as five hundred naira.
The new variants provide customers with the benefits options depending on the customers’ choice. The policy provides a cover for children of age between two and twenty-five years. The benefits include medical expenses and permanent disability resulting from accidents sustained by the insured child within and outside their school premises.
NAICOM has also granted the company an approval to underwrite Travel Insurance Card, a retail policy for regular travellers within Nigeria. With as low as seven hundred naira only, a traveller would be covered against accident arising in the course of his/her traveling by road, rail, water or air.
The product comes in four variants – drivers travel card, passengers travel card, students travel card and executives travel card. The policy benefits, which include medical expenses, emergency care, accidental death and permanent disability is expected to provide succour to the accident victims/family and also reduce the level of uninsured economic losses from accident in the country.
In the last three years the company has released various retail products into the market which include Home Guard, the product that provide cover for the house contents, I-Care, I-Salute & GPA 4 Schools which provide different personal accident covers and Doctor-on-Cover, a professional Indemnity policy for Medical Practitioners.
FBNInsurance celebrates Sanlam at 100
As Salam Group clocks 100 years as a financial services giant, FBNInsuranceas joined other members of the Group the world over in celebration of its 100 years of wealth creation.
Founded in 1918 and on June 8, same year, the Group first opened its doors for business in Cape Town, South Africa.
Sanlam has a rich history. The Group has evolved over the years from a traditional life insurance company to a broad-based diversified financial services provider that specialises in insurance (life and general), financial planning, retirement, investments and wealth creation.
In 1998 Sanlam demutualised, listing on the JSE Ltd and the Namibian Stock Exchange. The Group was restructured into several independent businesses within a federal business structure.
Today, Sanlam is a diversified financial services provider with an extensive product offering catering for all market segments. It also remains a pioneer of technological development and innovation.
The Group has consistently grown its local as well as its international footprint – it now has a presence in 33 African countries, India, Malaysia, Philippines, the UK /Ireland, the US, Switzerland and Australia.
From Cape Town to Casablanca, the Group is particularly proud of its footprint across Africa, boasting more than 11,800 employees throughout the continent.
STI promotes academic excellence, donates bags to pupils
As a good corporate citizen, Sovereign Trust Insurance Plc recently demonstrated another noble gesture in line with its Corporate Social Responsibility (CSR0 by giving out school bags and other educational items to a primary school within the locality of its corporate Head Office in Victoria Island, Lagos. This initiative was in commemoration of this year’s Children’s Day celebration marked on May 27, 2018.
The Managing Director and Chief Executive Officer of Sovereign Trust Insurance Plc, Mr. Olaotan Soyinka, in his remarks reiterated the commitment of the organization in giving back to the society whenever the opportunity presents itself.
He posited that “the organization will from time to time, identify and implement initiatives that will positively impact upon the lives of Nigerians at every level of the society without recourse to religious, gender or ethnic biases”.
He said the company is a wholly-owned Nigerian Insurance company that is interested in the welfare and the aspirations of every Nigerian both at home and in the Diaspora just as he used the opportunity to appeal to the public to embrace insurance as it remains the only business that is established to ensure wealth creation and preservation of assets and human lives.
Speaking earlier, Head of Corporate Communications & Brand Management of the Underwriting Firm, Segun Bankole, said “the initiative is geared at promoting academic excellence and good behavioral conduct amongst pupils in public primary schools in the country.”
He further mentioned that the initiative will go beyond the Children’s Day celebration as the company intends to make it an on-going one in some other locations where they have business presence.
Part of the criteria set in determining recipients included best pupils in all arms of the classes, (male & female) in Mathematics and English Language, most punctual pupil in the school, best behaved boy and girl, most improved pupil in the school in the male and female category as well.