Group Life Insurance: Firms risk huge claims

Insurance companies currently participating in the 2010 Federal Government’s employee group life insurance policy may be taking an unusual risk as rates charged on the deal is below acceptable market rates, experts have said. The group life insurance is a provision in the Pension Reform Act 2004, which says that workers of the Federal Government and private sector organisations having more than five employees should have cover provided by the employer.
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Added July 29, 2010
from Businessday Nigeria