Collapsed building: Lagos partners insurance firms to pay compensation

BENJAMIN Omoike l Monday, March 21, 2022

 

IKEJA, Lagos, Nigeria – Worried by frequent cases of collapse and liabilities associated with buildings in the state, Lagos State Government on Monday said it would collaborate with insurance companies to ensure safety and in the event of liabilities, pay compensations to persons concerned.

To achieve this, a mandatory insurance digital solution platform will be introduced for all property onwers in line with Federal Government Insurance Act.

Speaking during a press briefing, the Director General Lagos State Safety Commission, LSSC, Mr Lanre Mojola and the Chief Executive Officer, Nigerian Insurance Association, NIA; Mrs Yetunde Ilori, reiterated the need to imbibe insurance culture on the populace.

Omojola said, “Safety is everybody’s responsibility, yet Lagos State Goverment under the leadership of Mr Babajide Sanwo-Olu will continue to step up its responsibility at ensuring that there is safety across the State.”

He noted that, “No amount of efforts to prevent accidents, it will still occur. That is why insurance comes in. That is why we are engaging and educating the public to ensure that there is sustainability.

“Our role is to ensure that there is enforcement but we are starting with engagement. We are partnering all the insurance companies in provision of digital solution platform for insurance cover,” he said.

Ilori said, “We appreciate the work being done by the State Goverment to ensure that all is well. The State has always been at the forefront and others follow,” adding that, “We will ensure that all arms of insurance companies key into it. We have four committees to ensure that the process is successful.”

While noting that the purpose of the insurance was not for revenue generation, Ilori explained that no amount of premium would be too much to be paid as insurance cover. She explained that the essence of the digital solution platform is to have a hitch-free exercise that will be transparent, deviod of touts and other shoddy activities.

According to her, the first stage is to create awareness because many do not imbibe the culture of insurance, stressing that after engagement and education, the next stage will be to enforce the law.