Saturday, June 1, 2013

Property Claims B


Property Insurance B
 My recommendation if you are having property claims in Nigeria is to get the services of a loss adjuster once the loss occurs so that he can handle the claim payment on your behalf especially for big properties. For American Europeans Canadians and else where, you don’t need to do that since there are free independent loss adjuster that would work for you for free you only pay them a percentage of what he get in excess of what your insurance company had promised to pay.
Some Dos and Don’ts of Property claims payment
Ø Make sure that the correct value of the property and content are insured at all times and where substantial improvements or additions are done to the property and contents, you should as a matter of fact let the insurance company is informed and where applicable extra premiums are paid.
Ø Don’t try at any point to deceive the insurance company by not stating exactly what was insured especially where it comes to content especially in ware house claims.
Ø Never at any time try to destroy your property or content by your self and hope to fool the insurance company to pay you fat free money. 99% of the time the insurance company, through their experts would see through this and consequently repudiate your claims and may even prosecute you in law of competent jurisdiction for fraud!
If you like this, please make your comment and click post and if you have any claim question feel free to ask it in the comment section. Don’t forget to include your email address. I will get back to you as soon as possible for free advice

Thursday, May 30, 2013

WHAT YOU MUST CONSIDER SERIOUSLY ON YOUR PROPERTY INSURANCE CLAIMS (A)


WHAT YOU MUST CONSIDER SERIOUSLY ON YOUR PROPERTY INSURANCE CLAIMS  (A)
Properties claim particularly, houses, factories high rise buildings, ware houses and skyscrapers are generally complex claims. Most people if not all people including the insurance companies themselves are ill equipped to determine exactly what is lost and what was not lost in a fire that gut a large ware house or skyscraper. It is noteworthy that virtually all insurance companies rely on special expertise of independent losses adjusters to ascertain the exact extent of  damage in this class of property losses! When you have assimilated this fact; then put your humble self whose knowledge of  insurance loss is probably as good as a that of a bar maid about mainframe computers! Hahaha. How could you possible know how to determine the exact loss when insurance companies’ experts don’t!? So while the insurance companies experts are getting the services of high profile loss adjusters, you ignorantly kept silent and wait for what the expert hired by your insurance company would come up with about your loss forgetting that that the expert is just there to do the bidding of the company that hire him and cares a hoot about your so called interest. Let me ask you this; Have been ever being in a situation  or imagined what it is like that you are sued by an opponent backed up by a high profile lawyer in fact a SAN (Senior advocate) and you don’t even have a lawyer? Do you hope or imagine that you would win such a case even if you are 99.99% right? Of course you can’t win such a case. The only guaranteed thing for you is total loss! So what do you do in your property loss in Nigeria? You just spend a little more of your money and get yourself the services of a loss adjuster just like the insurance company does. It would be worth every penny of yours. Your loss adjuster and the one hired by the insurance company would lock horn; just like the senior advocate and a fellow senior advocate in a law suit. They understand each other’s language! Most time you may get extra 25 to 35% of what insurance company would have admitted to pay you!

How to Claim, Property insurance
Ø Report loss within 48 hours
Ø If police and fire fighters are involved obtain their reports
Ø Get photographs of the property in question as much as you can
Ø  Take 2 to 3 as well as the policy document to the insurance company make sure they acknowledged receipt on an extra photocopy.

Tuesday, May 28, 2013

Fake Insurance Identification 2



IDENTIFY FAKE INSURANCE 2

You already know from Fake Insurance 1 that if you send your car registration number and policy number to 33125, you would instantly get a text message confirming or otherwise the authenticity of your vehicle insurance. Well you are not the only person that could do that. You know what days have gone when you flash anything to the police and claim it is your car insurance because right now the traffic police is being equipped with toll free lines. All they have to do now to confirm if you have valid insurance is to send your car registration number and what you claim is your policy number to 33125 and instantly the confirmation or otherwise will come and God save you it is not fake because if it is; ‘gosh’ you are in! Just for your information the pilot test for this is already been done in Abeokuta, Ogun state. Be aware and try in your own interest to have your vehicle insurance from only registered insurance companies. Till my next blog cheers. Don’t forget to comment on the material I send to you.

IGWEGBE LAWRENCE

Friday, May 17, 2013

INSURANCE CLAIMS MADE EASY- HELP SITE: Fake Insurance identification

INSURANCE CLAIMS MADE EASY- HELP SITE: Fake Insurance identification: Hurra!!! Days of carring around fake insurance policies have come and gone now for any car insurance you purchase you can on the spot verify...

Fake Insurance identification

Hurra!!! Days of carring around fake insurance policies have come and gone now for any car insurance you purchase you can on the spot verify if it is fake by accessing the database created by Nigeria insurers association that contain all the genuine insurance policies. All you need to do  is simple- Text the policy number and ther vehicle's plate number to 33125! instantly you would get a text message conferming the genuinity of your insurance policy!

More details


by Free Insurance advice on July 19, 2012
The Nigerian Insurers Association (NIA) have been commended  by the National Insurance Commission (NAICOM), the Nigerian Council of Registered Insurance Brokers (NCRIB), Federal Road Safety Commission (FRSC), the Nigeria Police, Vehicle Inspection Officers (VIO) and the  Nigerian Customs Service for the development and deployment of electronic database  to eliminate fake third party motor and marine insurance [.

NIID motor insurance verification to end faking

Through an SMS or the Internet, a policyholder can verify if his motor insurance certificate is genuine or not. NIKE POPOOLA reports how the inauguration of the Nigerian Insurance Industry Database can eradicate the fake certificates syndrome
One of the major requirements to drive on Nigerian roads is the possession of a minimum of third party motor insurance certificate. Section 68 of the 2003 Insurance Act states, “No person shall use or cause or permit any other person to use a motor vehicle on a road unless a liability, which he may thereby incur in respect of damage to the property of third parties is insured with an insurer registered under this Act.”
However, most of the vehicles in the country either ignorantly or out of cost consciousness have continued to carry fake certificates about. In fact, the National Insurance Commission has said that over 70 per cent of vehicles on Nigeria’s roads are in possession of fake insurance vehicle certificates. Law enforcement agents, whose duty it is to check if drivers have the necessary papers to put their vehicles on the road, have often found it difficult to differentiate between the genuine and the fake insurance certificates.
Last week, the insurance industry, in collaboration with other stakeholders, jointly inaugurated the Nigerian Insurance Industry Database, which objectives are to phase out fake papers and allow genuine insurance to thrive in the sector. With this new measure, law enforcement agents and the vehicle owners, can easily verify the authencity of motor insurance certificate within a minute. According to the tenet of NIID, all they have to do is either send or SMS of the policy number on the insurance certificate and the plate number to 33125, and immediately get a reply or log on to www.askniid.org on the Internet.
The Commissioner for Insurance, Mr. Fola Daniel, said that the NIID would be of great benefit to all stakeholders, including the insurance industry, governments at all levels, policyholders, shareholders of insurance firms and the insuring public. He said that the commission was aware of the menace of fake insurances in the country, which had over the years deprived the nation of the socio-economic benefits inherent in genuine insurance transactions.
For this reason, he said the database was one instrument that would become very handy in the control or fight towards the eradication of fake insurances in Nigeria. According to him, NIID is expected to facilitate easy collation and dissemination of statistical information relating to all classes of insurance in Nigeria, and also serve as a platform for easy identification of genuine insurances by security agencies and other relevant authorities.
Daniel said, “It is also expected that the NIID will provide protection to Nigerians against the dangerous activities of insurance fraudsters, particularly the Third Party Motor Insurance Certificate racketeers.” The commissioner added that this project was a concerted effort to rid the nation of fake insurers and insurances. Over the past three years, he noted that NAICOM had embarked on various campaigns aimed at sanitising and eradicating fake insurances from the system through its Market Development and Restructuring Initiative.
“The eradication of fake insurances and the sanitisation of the insurance industry is one of the cardinal objectives of the MDRI. We are of the belief that the launching of the NIID will go a long way in assisting the commission in this campaign,” he said. The immediate Chairman, NIA, Mr. Olusola Ladipo-Ajayi, said that the NIID would help in the monitoring and authentication of insurance documents, reduction of fraudulent insurance transactions and policies, most especially for motor and marine policies.
He said, “It will help in reducing red tape and corruption by integrating with vehicle registration system of the Federal Road Safety Commission, the Police and other relevant government agencies. According to him, the NIID will also give easy access to statistical data for effective decision making. At present, he said that the NIA had over 500,000 vehicle insurance policies on the database with a daily average upload of 2,000 records.
Ladipo-Ajayi said that the NAICOM and other stakeholders, such as the Nigeria Police Force,  FRSC, Nigerian Council of Registered Insurance Brokers  have all signified sufficient interest in ensuring the acceptance of the system as the industry database. He added that policyholders whose vehicles’ insurance details must have been uploaded could check their motor insurance policy status through SMS or through the Internet. He said that mobile handsets were being configured for on-the-spot check of insurance validity of vehicles on the road, stressing that development work was ongoing for the marine module.
According to him, the law requires that it is only registered insurance companies in Nigeria that can sell valid motor insurance certificates. The chairman said that if motorists hit one another’s cars, they would not need to fight, provided they had genuine insurance certificates that would allow their insurance companies to bear their risks for them. He warned that faking a motor insurance certificate was worse than faking a drug.
“The black market thrives because the certificate they give is not worth it, which is why they have driven the price of insurance down. They can afford to sell low because they are not offering you anything. An authentic motor insurance will protect you and the vehicle,” Ladipo Ajayi said. Assistant, Corps Marshal, FRSC, Lagos, Mr. Ademola Lawal, described NIID  as a dream come true for the FRSC. He said, “We have always wanted a database for insurance industry that will enable us to know the number of cars on Nigerian roads.”
For this reason, he said that the FRSC decided to endorse the project with the NIA, because it was a welcome development. A director, Vehicle Insurance Officer, Ogun State, Bayo Otuyemi, said that the project was a milestone in the history of insurance in Nigeria. Acording to him, enforcement agents have often found it difficult to differentiate between genuine and fake insurance certificates.
This new mechanism, he added, would make it easier for them to be able to verify the authencity of insurances on the road. He said, “We are in total support of this laudable project and we are ready to cooperate with the insurance industry on the NIID.” Otuyemi, however, noticed that the introduction of the NIID implies more work to be done by the insurance companies in building confidence in the insuring public, by promptly responding to claims that emanate from such. He said that in the past, people lost confidence in insurance because they could not differentiate from the fake and genuine insurance certificates.
From: The Punch

Saturday, July 30, 2011

STEPS TO EASY CLAIMS

CATEGORY 4 Bodily Injury and Death in Air Planes, Trains, Luxirious Buses, Ships Taxis etc
Though you do not have any insurance with any of these public transport operatos but ther are legally liable to you for any bodily injury or death they may cause whilst you are a passenger in any of them.
STEPS TO EASY CLAIMS
Ø  Make sure you bought your ticket from the counter directly and that you fill your name address and other relevant information correctly.
Ø  Don’t repurchase your ticket from any orther person but if you have to do that for any reason get back to the ticketing clerk and update your information. It is also in your interest the person reselling your ticket to make sure that the information is updated except you wouldn’t mind to wrongly see your obutially in case of mishap.
 BODILY INJURY
You simply make your claim against the transport operator. It is expected that the transp[ort operator  should get it from his insurance company to you. If for any reason he doesn’t have an insurance in force as at the time the accident occurred or what he has has expired or that the insurance company refused to pay he is still personally liable to pay you for the bodily injury or loss.. If the transport operator or his his insurance company or both for any reason fails to pay you promptly don’t go away unreddemed do take time to report both to National Unasurance commission and the fFederal Road Safty.
DEATH
Like above, the family of the deceased must make their claim against the transport operatopr and of course they are bound to pay and promptly too through their insurance company. If the insurance company and the transport operator delays or resort to long tales as usual report them to the appropriate authority to help you tame them.