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Insurance Law in Calabar, Nigeria governs the relationship between insurance companies and their policyholders. It ensures that insurance firms are adhering to standards and procedures stipulated by regulatory bodies such as the National Insurance Commission (NAICOM). The law covers various types of insurances including life, property, and health insurance among others.
There are several instances where you might need an Insurance lawyer. This includes when you have a dispute over a claim, if your insurance company refuses to pay, or if you are not receiving the full value of your claim. Lawyers can also be useful when you're seeking to understand the fine print of an insurance policy or if you suspect bad faith insurance practice. It's always advisable to seek legal counsel to safeguard your rights and ensure fair treatment.
The Insurance Act of 2003 is the main law regulating insurance practices in Nigeria, including Calabar. It mandates every insurance firm to be duly registered and licensed by NAICOM. It also mandates for certain types of compulsory insurances like motor vehicle (third-party) insurance, employee group life insurance etc. The law also provides a framework for how insurance claims are to be handled and establishes penalties for various forms of misconduct by insurance providers.
If an Insurance company refuses to pay a legitimate claim, you can file a complaint with NAICOM. If necessary, you can also take legal action with assistance from a lawyer.
Yes, the law mandates third-party motor vehicle insurance nationwide, including Calabar.
Yes, if it can be proven that the insurance company is acting in bad faith, you can pursue a lawsuit against them to claim damages.
You can submit a complaint to NAICOM or consult with a lawyer to guide you through the process.
Employee group life insurance covers the death of an employee, ensuring that their beneficiaries are compensated accordingly as stipulated in the insurance policy.
The National Insurance Commission (NAICOM) website is a valuable resource for up-to-date news, regulatory guidelines, and directives. It also provides a platform to lodge complaints and seek redress. Nigerian Insurers Association (NIA) can also provide resources and clarifications about insurance practices.
If you need legal assistance related to Insurance in Calabar, consult with a qualified legal practitioner who specializes in insurance law. They will help you understand your rights, interpret insurance policies, handle disputes, and guide you through the legal process if necessary. Always do your due diligence when choosing a lawyer.
