INSURERS PAY OVER N100 MILLION CLAIMS ON BANK FRAUDS

Fraud claims from banks seem to be on the increase as over N100 million was paid as claims by Insurance companies in 2015 to affected banks.

According to the Nigerian Insurers Association (NIA), the affected banks include ECO Bank Plc which got over N15 million claims from Custodian & Allied Insurance, Wema Bank Plc got over N29.97 million from Great Nigeria Insurance, Fidelity Bank Plc got N6.33 million from AIICO Insurance Plc, the bank also got N19.05 million from Anchor Insurance while Diamond bank Plc got N20.22 million from Saham Unitrust Insurance Limited.

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