Nigeria Considers Strong Action On Poor Building Insurance Adherence

Yemisi Izuora

There is ongoing sensitization to encourage building owners to take appropriate steps to insure their properties as required by the law to avoid sanctions.

The National Insurance Commission, NAICOM, is driving this advocacy calling attention of the public on the provision of the law with regard to Public Building Liability Insurance, Insurance of Building under Construction above 2 floors.

During his visit to Kano State Governor on Monday, the Commissioner for insurance Sunday Thomas, said that the issue of collapsed buildings has continued to be one of the problems in big and major cities in the country that seems to have defied solutions and checks put in place by the authorities.

To this end, Thomas said the Commission has begun collaboration with some federal agencies like the Fire Service, Police etc and relevant professional associations like COREN to ensure provisions of the law regarding the insurance of public buildings against 3rd party liability and all buildings under construction that are above 2 floors are strictly adhered to.

He passionately urged the Governor Abdulahi Umar Ganduje,  to work closely with the insurance sector on this to ensure safety and protection of lives and properties in Kano State.

Thomas, also informed the Governor that the Commission is planning to organise a One-day sensitisation workshop for permanent secretaries and directors of all Ministeries, Departments and Agencies, MDAs of government in the state in other to sensitise them on the need and benefit to adequately protect and insure strategic government assets and human resources.

“Some of our experiences like the unfortunate incidents in the aftermath of the #EndSARS protest are indeed eye opener for many and it is clear that insurance protection has become a necessity in our private and public business activities in order to have peace of mind.” he recalled.

According to Thomas, “Adequate insurance cover for public properties would have saved the government unnecessary expenses in replacing or repairing some of the damages.” adding that the Commission shall continue to work hand in hand with relevant Kano State Agencies in pushing for more insurance uptake by Nigerians in order to minimize economic losses and use of public funds meant for development to compensate victims.

“Your Excellency, we shall be coming back to Kano by next month to hold the sensitisation workshop for your government functionaries and the public to educate them on the benefits inherent in the consumption of insurance products.

“As I said earlier, I want to use this opportunity to seek for the Kano State Government assistance in the implementation of compulsory insurances. The Commission is incepting talks with stakeholders to ensure that enforcement commence in earnest of all classes of compulsory insurances across the country.

“Your Excellency Sir the Commission is seeking your support in implementing initiatives of the Commission that will allow insurance to be a household need in Kano State.” he said.

He appealed to the Governor to constitute a committee that will work with the Commission, consider mirroring the legislation that makes it mandatory for citizens to have compulsory insurances and provide the Commission with a befitting office accomodation that will serve as the insurance policy hub for the Northern Region of the country.

The Commission he assured is committed to continually ensure and guaranty adequate protection of policyholders,,adding “This effort has been taken in many fronts such as ensuring that genuine claims are promptly paid by insurers, ensuring financial soundness and viability of the insurers to protect investments, right prizing of insurance products, value for money, use of technology for ease of transaction etc.”

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