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Coronation Insurance Redefines Motor Insurance in Nigeria with Launch of MotorMax

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Coronation Insurance Plc has announced the launch of MotorMax, an innovative motor insurance policy designed to transform the Nigerian motor insurance landscape by moving motorists beyond basic third-party compliance to affordable, comprehensive vehicle protection.

For decades, motor insurance adoption in Nigeria has largely been limited to mandatory third-party coverage. MotorMaxaddresses this gap by offering motorists robust, accessible protection for their own vehicles, with plans starting from as low as ₦25,000.

MotorMax introduces a flexible, tiered structure—Bronze, Silver, and Gold—tailored to meet the diverse needs and budgets of Nigerian drivers, from urban commuters to long-distance travellers and owners of high-value vehicles.

The MotorMax Bronze plan serves as an entry-level upgrade from basic third-party insurance. Priced at ₦25,000 annually, it offers vehicle repair coverage of up to ₦500,000; third-party vehicle damage coverage of up to ₦3,000,000; unlimited (but reasonable) compensation for third-party injury or death; towing services up to ₦5,000; emergency medical expense coverage up to ₦10,000; and a 10% policy excess.

The MotorMax Silver plan, available at ₦45,000 annually, enhances protection with vehicle repair coverage up to ₦750,000, increased towing benefits of up to ₦15,000 (intra-state) and ₦25,000 (inter-state), and emergency medical coverage up to ₦15,000.

At the premium tier, MotorMax Gold offers motorists near-comprehensive benefits at a significantly lower cost than traditional comprehensive insurance. Priced at ₦50,000 annually, it includes vehicle repair coverage up to ₦1,000,000; third-party vehicle damage coverage up to ₦3,000,000; unlimited liability for third-party injury or death; towing services up to ₦15,000 (intra-state) and ₦25,000 (inter-state); emergency medical coverage up to ₦20,000; and a 10% policy excess.

MotorMax is specifically designed for motorists currently on third-party policies who seek enhanced protection without the financial burden of full comprehensive insurance. By bridging the gap between compliance and comprehensive cover, the product empowers drivers with greater peace of mind on every journey.

Speaking on the launch, Olamide Olajolo, MD/CEO of Coronation Insurance Plc, said:

MotorMax represents our commitment to reimagining insurance for the everyday Nigerian. We understand that many motorists want more protection than third-party cover but are constrained by cost. With MotorMax, we are providing a practical, affordable solution that delivers meaningful coverage and peace of mind. This is a significant step in deepening insurance penetration and ensuring more Nigerians are truly protected on the road.”

The launch of MotorMax underscores Coronation Group’s broader mission to deliver transformational solutions that address real-life challenges across Africa. By raising the standard for motor insurance offerings, Coronation Insurance continues to position itself as a customer-focused innovator in the industry.

Motorists can purchase MotorMax by emailing digitalsales@coronationinsurance.com.ng or calling 02-012275475 or 02-012275476.

The post Coronation Insurance Redefines Motor Insurance in Nigeria with Launch of MotorMax appeared first on Business Today NG.

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Business

Nascon, Coronation, Jaiz Bank top stock pick this week

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Nigerian stocks advanced by 2.9 per cent last week, lifted by bank and oil & gas equities. All the sector indexes appreciated during the week.

The main equity index has yielded 60.5 per cent so far this year.

“Recent broad-based declines have, however, brought several frontline and mid-cap stocks to more attractive entry levels. This could encourage some bargain-hunting during the week,” analysts at Meristem Securities said in a note ahead of the week.

PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.

The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions, with the expectation that selected stocks will record reasonable price appreciation with the passage of time.

This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.

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Nascon

Nascon tops this week’s list for its strong fundamentals. The net profit ratio (NPR) of the salt maker is 9.3, while the price-to-earnings (PE) ratio is 11.5x. Its 14-day relative strength index (RSI) is 6.9.

Coronation Insurance

Coronation appears on the pick on the basis of its attractive fundamentals. The NPR of the insurer is 22.7, while the PE ratio is 5.2x. The 14-day RSI is 55.4.

Jaiz Bank

Jaiz makes the selection for its strong fundamentals. The bank’s NPR is 28.5, while the PE ratio is 1.5x. Its 14-day RSI is 43.9.

Fidson

Fidson makes the cut for its sound fundamentals. The NPR of the drug manufacturer is 7.8, while the PE ratio is 17.7x. The 14-day RSI is 43.

CAP

CAP makes the cut for its sound fundamentals. The NPR of the chemical manufacturer is 14.1, while the PE ratio is 13.5x. The 14-day RSI is 3.6.


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NCC Empowers Persons With Disabilities Through Digital Citizenship Training in Lagos

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Over  100 people living with disabilities in Lagos State have completed a two-day workshop organized by the Nigerian Communications Commission (NCC), focused on building digital literacy, online safety awareness, and familiarity with assistive tools.

The session, held on September 9 and 10, 2026, carried the theme “Empowering Persons with Disabilities Through Digital Citizenship for an Inclusive Digital Economy.”

Participates covered topics including basic digital literacy, internet usage, online safety practices, privacy protection, adaptive technology, and responsible online conduct. Rather than simply teaching device operation, organizers emphasized how digital tools could enhance participants’ independence, personal safety, and access to broader opportunities — including recognizing fraudulent schemes and safeguarding personal data online.

They also explored adaptive tools such as voice-to-text software, designed to simplify device interaction for people with certain disabilities. Organizers additionally addressed the stigma and exclusion that many disabled Nigerians continue to face, noting how such attitudes restrict full participation in society.

NCC Executive Vice Chairman Dr. Aminu Maida — represented at the event by Helen Obi, Director of the Commission’s Digital Economy Department — described the program as evidence of the regulator’s dedication to removing disability-related obstacles to involvement in Nigeria’s expanding digital economy.

Maida noted that genuine digital inclusion requires more than simply expanding internet access. He explained that being digitally literate means understanding how to engage online safely, guard personal information, spot deception and false information, and grasp one’s rights and obligations in digital spaces. He added that technology could help disabled individuals overcome obstacles in schooling and employment while opening doors in business ownership, remote work, and access to public resources.

The Lagos workshop forms part of a broader NCC effort to extend digital training to disabled Nigerians nationwide. Maida pointed to other accessibility initiatives, including the Commission’s E-Accessibility Project, research into adaptive devices such as an assistive cane prototype for visually impaired persons, and the fourth annual Hackathon themed “Technology Without Barriers,” which invited developers to build accessibility-focused solutions.

According to the NCC, expanding internet access alone won’t achieve meaningful inclusion unless people also gain the confidence and skills to use technology effectively and securely. Maida called for closer cooperation among government bodies, regulators, tech firms, service providers, international partners, civil society groups, and disability advocacy organizations, arguing that accessibility should be built into digital products from the design stage onward.

The Commission credited the Lagos State Government, the National Commission for Persons with Disabilities, the Lagos State Office for Disability Affairs, and other partners for supporting the program. For participants, the training offered tools they can put to immediate use — from spotting scams and securing personal data to navigating assistive technology with greater confidence.

The post NCC Empowers Persons With Disabilities Through Digital Citizenship Training in Lagos appeared first on Business Today NG.

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