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Insurers dividend payout rises 79pc despite Covid hit

Insurers dividend payout rises 79pc despite Covid hit
Tuesday May 04 2021
Guests follow proceedings during the launch of a new InsurTech ecosystem at Radisson Blu Hotel in Nairobi on July 16, 2019. FILE PHOTO | NMG
By OTIATO GUGUYU
Summary
Insurance sector dividend payout jumped 79 per cent to Sh4.4 billion last year rewarding shareholders despite ravages of the coronavirus pandemic on profitability.
This was an increase from Sh2.4 billion paid out in 2019 as some insurance businesses managed to navigate the tough economic times.
Insurance sector dividend payout jumped 79 per cent to Sh4.4 billion last year rewarding shareholders despite ravages of the coronavirus pandemic on profitability. ....

Godfrey Kiptum , Insurance Regulatory Authority , Regulatory Authority , Insurance Godfrey Kiptum , Icea Lion , Liberty Life , காப்பீடு ஒழுங்குமுறை அதிகாரம் , ஒழுங்குமுறை அதிகாரம் , சுதந்திரம் வாழ்க்கை ,

Companies' group insurance payments drop to 6-year low

Companies’ group insurance payments drop to 6-year low
Summary
Association of Kenya Insurers (AKI) chief executive Tom Gichuhi said the job losses witnessed last year led to declines in group life premiums given that a few companies were able to maintain or increase staff size.
Monday May 03 2021
Association of Kenya Insurers Executive Director Tom Gichuhi (left), AIG Insurance Kenya MD Catherine Igathe (centre) and Zep Re Managing Director Hope Murera during the East Africa Insure Tech Forum at the Nairobi Serena Hotel on September 19, 2019. PHOTO | DIANA NGILA | NMG
By PATRICK ALUSHULA
Summary
Association of Kenya Insurers (AKI) chief executive Tom Gichuhi said the job losses witnessed last year led to declines in group life premiums given that a few companies were able to maintain or increase staff size. ....

Tom Gichuhi , Association Of Kenya Insurers , Insurance Regulatory Authority , Kenya Insurers , Association Of Kenya Insurers , Insurance Payments , Insurance Premiums , சங்கம் ஆஃப் கேந்ய காப்பீட்டாளர்கள் , காப்பீடு ஒழுங்குமுறை அதிகாரம் , கேந்ய காப்பீட்டாளர்கள் ,

Piawe remediation program and review

Minister for Digital, Minister for Customer Service
NSW Treasurer Dominic Perrottet and Minister for Digital and Minister for Customer Service Victor Dominello today announced NSW Treasury and the State Insurance Regulatory Authority (SIRA) will work with icare to speed up the remediation process for injured workers who have been underpaid due to historical miscalculation of payments.
Deloitte will be engaged to lead the review providing expert advice on rectifying the historical Pre-injury Average Weekly Earnings (PIAWE) underpayments and overpayments, following their work on the 7-Eleven wage claims program.
This will include commissioning a comprehensive review of PIAWE assessments to ensure the timely and fair compensation of any underpaid claims and determining if changes to the calculation or methodology are needed to assist icare in preventing PIAWE miscalculations in the future. ....

Dominic Perrottet , Treasury Managed Fund , Insurance Regulatory Authority , Customer Service Victor Dominello , State Insurance Regulatory Authority , Pre Injury Average Weekly Earnings , Nominal Insurer , New South Wales , Terms Of Reference , கருவூலம் நிர்வகிக்கப்பட்டது நிதி , காப்பீடு ஒழுங்குமுறை அதிகாரம் , நிலை காப்பீடு ஒழுங்குமுறை அதிகாரம் ,

'Manifold unhappy consequences': Damning reports into troubled insurer icare

âManifold unhappy consequencesâ: Damning reports into troubled insurer icare
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The countryâs biggest workersâ compensation scheme suffered from a failure of governance, sloppy execution and difficulties in getting injured workers access to their entitled benefits.
State insurer icare was on Friday served two damning report cards, the latest in a series of reviews delivered to NSW Parliament following revelations of financial mismanagement and the underpayment of thousands of injured workers by up to $80 million.
In the two years to 2020, the scheme suffered a net loss of more than $2.5 billion. ....

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NSW government's injury insurance consultation for food delivery riders

April 30, 2021
A consultation has been announced by the NSW government to consider how workers’ compensation and CTP schemes serve food delivery riders for services like Uber Eats and Deliveroo.
The injury insurance consultation will be led by the State Insurance Regulatory Authority, and is seeking ‘fit-for-purpose solutions for gig platforms’ to ensure that food delivery riders have access to support should they be injured at work.
NSW Minister for Customer Service Victor Dominello said the consultation would be the first of its kind in Australia.
“The food delivery sector is ever-expanding, and we need to find a modern and tailored solution to the issues facing this sector,” Dominello said. ....

Insurance Regulatory Authority , Customer Service Victor Dominello , Uber Eats , State Insurance Regulatory Authority , காப்பீடு ஒழுங்குமுறை அதிகாரம் , உபேர் சாப்பிடுகிறது , நிலை காப்பீடு ஒழுங்குமுறை அதிகாரம் ,