Insurer pays N1.8 billion claims in H1

Allianz Nigeria, a member of Global Allianz Group, said it paid claims worth N1.8 billion to customers who suffered losses in the first half of 2021.

The payments were split between life and non-life businesses, the organisation said, noting that it demonstrated its unwavering commitment to customers even in tough times.

The Managing Director, Allianz Nigeria, Adeolu Adewumi-Zer, further assured policyholders of its obligations to settle claims.

“As risk bearers, claim settlement is the core of any insurance business and we are fully awake to our obligations to all stakeholders,” she said.

Adewumi-Zer stressed that the announcement of COVID-19 travel protection cover to the Nigerian market followed the declaration of the Allianz Risk Barometer 2021 results, which underscored COVID-19 risks; business interruption and cyber incidents.

All the risks are strongly interlinked, demonstrating the growing vulnerabilities of our highly globalized and connected world, he said.

Its new product, according to him, was an extension of the international travel insurance and offers traveling customers protection against emergency medical expenses associated with a covid-19 diagnosis while on a trip.

The travel plan also covers accommodation costs related to COVID-19 diagnosis during a trip.

This is a timely introduction to the travel industry as many countries have imposed mandatory quarantines, border closures, entry bans as well as restrictions for domestic travel as a means to curb the spread of the virus.