COVID-19: Insurance group offer N5 billion premium to settle valid claims

LAGOS, Nigeria – A group of insurance firms have offered to provide premium life insurance cover up of to N5 billion for  about 1000 healthcare workers and volunteers to  settle valid insurance claims during the onset of the COVID-19 pandemic.

The COVID-19 pandemic has killed over 58,000 people worldwide with over 1 million confirmed cases so far.

The insurance groups involved in the deal are Leadway Assurance Company Limited, Custodian & Allied Insurance Plc, Lasaco Assurance Plc, AIICO Insurance Plc, Tangerine Life Insurance Limited and Ark Insurance Brokers Limited contribute.

Recall that healthcare workers and volunteer caregivers  have continued to play an invaluable frontline role in fighting the COVID-19 pandemic.

In support of this, Hon. HAB Fasinro of Fenchurch Group  assembled a team of leaders in the Insurance industry that will, in partnership with Lagos State Government, help with the practical solution of providing medical, disability/incapacity and term life insurance cover for up to 1000 healthcare workers and volunteers who are in the front line in the fight against COVID-19 in Lagos State.

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Executives who have signed in for the N5 billion life premium cover include
1.   Mr. Tunde Hassan-Odukale: Leadway Assurance Company Limited

2.   Mr. Wole Oshin:  Custodian & Allied Insurance Plc

3.   Mr. Segun Balogun: Lasaco Assurance Plc

4.   Mr. Babatunde Fajemirokun: AIICO Insurance Plc

5.  Mr. Livingstone Magorimbo: Tangerine Life Insurance Limited

6.  Mr. Kayode Awogboro: Ark Insurance Brokers Limited

They are all “Proudly Nigerian” companies who have collectively agreed and shall bear the cost of all premiums to make available a pool of funds of up to (Five billion Naira) to settle all valid claims. The coverage of the policies will be limited to inpatient hospital cash and life insurance cover for healthcare workers and volunteers in Lagos State.

This partnership with the Lagos State Government will contribute towards the exemplary effort being made by the State in the fight against the COVID-19 pandemic.

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“We would like to take this opportunity to commend the bravery and appreciate the selfless services of our Doctors, Nurses and all the Health and essential service workers who are working tirelessly to help combat this epidemic”, they said.