Harboursandport.com: Lagos - The Commissioner For Insurance and Chief Executive Officer of the National Insurance Commission, NAICOM Mr. Sunday Thomas has enjoined federal and state governments to begin to make adequate provisions for insurance of public buildings and buildings under construction in their respective annual budgets.
He said
these categories of insurance are made compulsory by extant insurance laws in
Nigeria and, thus, must be complied with by all.
According to
Thomas, Section 64 of the Insurance Act 2003 makes it mandatory for
individuals, governments and corporate organisations that undertake the
construction of any building above two (2) floors to procure a builder's
liability insurance policy (building under construction) from any of the
NAICOM' licensed Insurer in Nigeria.
Speaking
further, he said Section 65 of the Insurance Act 2003 also makes it compulsory
for all public buildings in the country to be insured. This is to protect
innocent victims in the events of accidents and other disasters that may occur
while they are within such premises.
Thomas spoke
at the 12th meeting of the National Council of Lands, Housing and Urban
Development in Kaduna State. Participants at the session include the Honourable
Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa; Minister of
State, Housing and Urban Development, Abdullah Tijjani Gwarzo; Chairman, Senate
Committee on Housing and Urban Development, Sen. Aminu Tambuwal; Chairman,
House Committee on Housing and Habitat, Hon. Balele Aminu and Chairman, House
Committee on Urban Development and Regional Planning, Hon. Abiante Awaji, The Permanent
Secretary, Federal Ministry of Works and Housing, Mahmuda Mamman;
Commissioners, Permanent Secretaries, Directors of Lands and Housing from the
36 States of the federation; Managing Director of Federal Mortgage Bank of
Nigeria, Nigeria Mortgage Refinancing Company, Shelter Afrique, etc.
Thomas urged
the various state governments to emulate the Lagos State government by
domesticating the insurance laws in their respective states.
He listed
some of the benefits from compliance with these compulsory insurances to the
Federal and State Governments to include: reduction in the Federal and State
Government expenditure in event of disaster that may affect citizens by
shifting the burden to the risk-bearers (Insurance Companies), hence
restoration would not be settled from tax payer’s money; creation of employment
opportunities for citizens of the State; opportunity for enhancing the
Internally Generated Revenue (IGR) of the respective states amongst others.
No comments:
Post a Comment