Connect with us

General News

Loss Adjusters – The Impartial Claims Specialists

Published

on

Kindly share this post

In insurance, one of the most important issues is that of claims payment. And one of the major reasons why insurance in Nigeria has poor image and below average penetration level is the public view that insurance companies are unwilling to pay claims, even after all necessary premiums have been paid. It is the one that is of utmost concern to the insured and interestingly, it is the one that insurance companies shy away from. But in talking about claims making, especially when big sum of money is concerned, one expert whose service is crucial is that of the loss adjuster. Unfortunately, not many people understand the role of the loss adjuster in insurance transaction. It is important for the insuring public to know hence we have chosen to discuss this topic. Who is a loss adjuster and what business does he do in insurance. A loss adjuster falls into the occupational category of insurance adjusters and claims examiners. Loss adjusters mostly investigate insurance claims, negotiate settlements and authorize payments. Individuals and businesses purchase insurance policies to protect themselves against financial losses. In the event of a loss, policy holders submit claims, or requests for payment, as compensation for their loss. Loss adjusters, examiners and investigators, work primarily for property and casualty insurance companies, for whom they handle a wide variety of claims for property damage, liability or bodily injury. In discharging these duties, loss adjuster may face daily or routine tasks. These include Adjusters plan and schedule of work that required processing a claim that would follow an insured event, for example an automobile accident or damage to one’s home as a result of a storm. Investigating claims by interviewing the claimant and witnesses. Consulting police and hospital records, inspecting property damage to determine the extent of the company’s liability, consulting with other professionals, such as accountants, architects, construction workers, engineers, lawyers, and physicians, who can offer a more expert evaluation of a claim and information gathering, including photographs and written or taped statements, which are set down in a report that will be used to evaluate a claim.  When the policyholder’s claim is legitimate, the claims adjuster negotiates with the claimant and settles the claim. When claims are contested, adjusters will work with lawyers and expert witnesses to defend the insurer’s position. Many companies centralize the claims-adjusting operation in a claims center, where the cost of repair is determined and a cheque is issued immediately. However in more complex cases, usually involving bodily injury, they are referred to senior adjusters. Some adjusters work with multiple types of insurance products. For instance, some specialize in property claims, business losses, vehicle damage, or workers’ compensation as the case may be. Public adjusters assist clients in preparing and presenting claims to insurance companies and trying to negotiate a fair settlement. They perform the same services as adjusters who work directly for companies however they work in the best interests of the client, rather than the insurance company. Even in case where the public may not see the need for them, loss adjusters are still very much needed to contact policyholders, inspect damaged property and consult with experts Average employment growth is envisioned for this category. Because of its unpopularity among the public, there may be temptation among the practitioners to change jobs and move to other occupations, or retire. Loss adjusting as a career poses great prospects for new entrants, especially under the emerging insurance climate where insurance has become the second most active business in the financial services scheme. The prediction is that insurance companies are still very much in consolidation mode and technological advancements might make some of the tasks, duties and functional roles and rationale obsolete. It has become a priority to keep pace with a world economy that is growing in size and complexity. Many loss adjusters and companies develop specialist niche services, to address new challenges, customer needs and expand their provided services. Chartered loss adjusting firms are a good place to start looking. Stepping into the new economy with confidence, as part of the service providers catering for the growing and diversified world of risk, claims and incident management may offer a good platform for those interested in loss adjusters.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

General News

World Bank Blocks Social Media Comments from Nigerians over Loan Backlash

Published

on

Kindly share this post

World Bank has restricted comments on its Instagram page after thousands of Nigerians flooded the platform begging them to stop lending money to Nigeria.

World Bank Blocks Social Media Comments from Nigerians over Loan Backlash

The protest erupted after reports that President Bola Ahmed Tinubu is seeking a fresh $1.25 billion dollar loan for approval on June 26.

Some Nigerians asked the World Bank to provide more details about the purpose of the loan and how the funds would be managed.

Others said the country should reduce dependence on foreign loans and focus on improving local revenue.

The federal government has continued to defend its borrowing plans.

Officials say the funds will support economic reforms, development projects and efforts to strengthen the economy.

Nigeria remains one of the major borrowers from the World Bank in Africa, with different administrations securing loans over the years for infrastructure, social programmes and economic support.


Kindly share this post
Continue Reading

General News

Lagos Plans New Cybersecurity Centre

Published

on

Kindly share this post

The Lagos State Government plans to establish a Cybersecurity Operations Centre to strengthen protection of government systems, digital services and citizen data amid rising cyber threats linked to the city’s expanding digital economy.

Tunbosun Alake, Lagos commissioner for innovation, science and technology, said the centre would help secure the infrastructure supporting online payments, e-government services, cloud platforms and technology-driven business operations across the state.

According to Alake, the facility will monitor, detect and respond to cyber threats targeting government networks, digital transactions and sensitive public data.

The move comes as Lagos accelerates its smart city agenda through investments in broadband infrastructure, digital identity systems and automated public services.

Alake said Lagos had already deployed 109 Data Protection Officers across Ministries, Departments and Agencies, which he described as the highest number among Nigerian states, to strengthen compliance with data protection regulations.

Alongside the proposed cybersecurity centre, the state also launched the Lagos Campus Network Upgrade project aimed at improving digital infrastructure within the public sector.

The upgrade is expected to improve network performance, automate internal government processes and enhance digital engagement with residents. The cybersecurity initiative follows the release of Lagos State’s cybersecurity guidelines in April.

The framework recommends measures including multi-factor authentication, vulnerability testing, encrypted backups and tighter endpoint security controls.

The guidelines align with Nigeria’s Cybercrime Act 2024, the Nigeria Data Protection Act 2023 and the National Cybersecurity Policy and Strategy 2021.

 


Kindly share this post
Continue Reading

General News

LG Electronics Strengthens Household Energy Efficiency in Nigeria with Advanced Inverter Refrigerator Solutions

Published

on

Kindly share this post

LG Electronics (LG) is reinforcing its commitment to smarter and more energy‑efficient living by spotlighting its range of inverter‑powered refrigerators designed to meet the evolving needs of Nigerian households.

As electricity costs continue to rise and inflationary pressures shape consumer spending, LG’s refrigerator portfolio is positioned as a practical solution that combines dependable performance with responsible energy consumption.

Refrigerators are among the most frequently used appliances in Nigerian homes, operating 24 hours a day and accounting for a significant share of household electricity usage. LG addresses this challenge through its proprietary Inverter Compressor technology, which intelligently adjusts cooling power based on actual usage conditions.

By reducing unnecessary energy draw, the system delivers stable temperature control while helping households lower energy consumption and manage monthly utility costs more effectively.

Beyond energy savings, LG refrigerators are designed to support food security and reduce waste, an increasingly important consideration for families navigating rising food prices. The inverter system enables faster cooling recovery after power interruptions and helps maintain consistent internal temperatures, preserving food freshness for longer periods. With fewer friction points in the compressor design, LG refrigerators also offer enhanced durability and long‑term reliability, minimizing maintenance costs over time.

LG’s energy‑saving refrigerator lineup includes Top Mount, Side‑by‑Side, and Door‑in‑Door models, each tailored to different household sizes, storage needs, and lifestyle preferences. The Top Mount refrigerators offer practical, space‑efficient designs ideal for everyday family use, delivering reliable cooling with optimized energy efficiency.

The LG GN-F452PFAQ model keeps food perfectly fresh with FRESH Converter+ that optimizes temperature as per food items and never runs out of ice with the Auto Ice Maker.

For households that require larger storage capacity and improved organization, Side‑by‑Side models provide generous interior space, improved visibility, and consistent cooling across compartments.

For more design‑conscious consumers, LG’s Door‑in‑Door refrigerators reduce cold air loss by allowing quick access to frequently used items, supporting both energy efficiency and long‑lasting freshness.

At the premium end, LG continues to innovate with advanced models such as the MoodUP™ refrigerator, which combines customizable aesthetics with functional energy‑saving features like the InstaView panel, allowing users to view contents without opening the door and reducing unnecessary cold air loss. This refrigerator comes with a washing machine as a bundle promotion.

According to LG, this range‑based approach reflects a deep understanding of how Nigerian households differ in size, consumption habits, and lifestyle needs.

“Nigerian consumers are becoming more intentional about how they use energy and manage household costs,” said Mr. Oktai Kim, General Manager, Home Appliance Solutions, LG Electronics Nigeria. “By offering a diverse range of inverter‑powered refrigerators, we are giving families the flexibility to choose solutions that suit their homes while delivering long‑term value through energy efficiency and dependable performance.”

Rather than focusing on technology alone, LG’s energy‑saving refrigerator portfolio emphasizes everyday benefits, efficient operation, reliable cooling, and designs that adapt to real living conditions. Available nationwide, LG refrigerators continue to support smarter living and economic resilience, reinforcing the company’s commitment to delivering durable, consumer‑focused home solutions for Nigerian households.


Kindly share this post
Continue Reading

Trending