Nigeria: Insurance Laws and Products

The Nigerian Insurance Industry Reform Act 2025 has introduced a more stringent framework for claims settlement, with stronger financial and regulatory consequences for unreasonable delay. This thought leadership article examines how NIIRA 2025 affects the proof of insurer misconduct and the remedies available to policyholders, focusing specifically on unreasonable delay in claims settlement and the significant changes from the previous Insurance Act 2003.

Road transportation remains the predominant means of movement for individuals and goods in Nigeria, and one feature that has remained constant in Nigeria's transportation landscape is the steady increase in the number of motor vehicles using public roads. In densely populated commercial centres such as Lagos, thousands of private motorists, commercial transport operators, heavy-duty vehicles, motorcycles, tricycles and pedestrians interact daily within an increasingly congested road network. The inevitable consequence is the frequent occurrence of road traffic accidents resulting in death, bodily injury and substantial property damage.

Warranty and Indemnity insurance is transforming M&A transactions globally, yet its adoption in Nigeria faces significant barriers. This analysis explores the practical challenges of implementing...

Healthcare disputes in Nigeria sit at the intersection of law, medicine and public policy. They span a wide spectrum, including clinical negligence claims, professional discipline proceedings, regulatory enforcement and mass-tort style claims arising from systemic failures within healthcare delivery.

This article highlights some key reforms introduced by the Nigeria Insurance Industry Reform Act 2025 (NIIRA 2025), which has repealed the Insurance Act 2003 (IA 2023). It is the second in the series of articles exclusively focused on NIIRA 2025.

Nigeria's recent election back into the Council of the International Maritime Organisation, after 14 years, marks more than a diplomatic milestone.

Nigeria is the maritime backbone of West Africa. Its coastline stretches over 850 kilometres and is home to strategically located ports including Apapa, Tin Can Island...

A vessel may load crude in Port Harcourt, discharge containers in Mumbai, or bunker in Mombasa. Yet when a collision, oil spill, or injury claim arises, the decision on liability is often made in London.

The Nigerian Insurance Industry Reform Act (NIIRA) 2025, introduces stronger regulatory control over insurers, expanding the National Insurance Commission's (NAICOM) authority.