Director General NIA, Mrs Yetunde Ilori
Ebere Nwoji
The Nigerian insurance industry, has paid for the Life Insurance cover worth of N11billion
being the sum assured for Insurance Cover for front line health workers in the
battle against COVID-19.being the sum assured for Insurance Cover for front line health workers in the
The cover, which is being provided by
the insurance industry comprising all Insurance, Reinsurance and broking
companies, will cover Doctors, Pharmacists, Nurses and other ancillary
personnel and volunteers in the frontline of the battle against the
Virus.
Under the cover announced by the
Presidential Task Force on COVID-19, the industry is providing Life
Insurance for a maximum of 5000 frontline health workers engaged by the
Nigerian Centre for Disease Control across the thirty six (36) states of
the federation and the Federal Capital Territory, Abuja.
The sector operators said this is in
fulfillment of the pledge made to the federal government by insurance
industry leaders as part of the industry’s contribution to the battle
against coronavirus disease.
The premium of N112.5million, which is
for one year coverage has been duly paid in line with the extant law on
Insurance contracts especially as it relates to No Premium No Cover.
The life insurance policy document,
titled COVID-19 Intervention Team Life Insurance Cover detailing the
extent of cover and benefits payable under the policy was earlier
submitted to the Minister of Finance, Budget and National Planning. Mrs.
Zainab Shamsuna Ahmed by the Acting Commissioner for Insurance, Mr.
Sunday Thomas and formally handed over to the Chairman, Presidential
Task Force on COVID-19, by a member of governing council of Nigerian
Insurers Association (NIA) Mrs. Folashade Joseph and President of the
Nigerian Council of Registered Insurance Brokers (NCRIB), Dr. Mrs. Bola
Onigbogi in the presence of the finance Minister.
Speaking on the insurance coverage,
Director General of Nigerian Insurers Association (NIA) Mrs. Yetunde
Ilori, said it was part of the insurance industry’s support to the
federal government as the battle against COVID-19 continues.
“This is part of the insurance
industry’s support to the federal government as the search for a
solution continues. There are other initiatives at the state level and
the main idea is that the industry must join other stakeholders in this
battle”.
“We thank the federal government for its
faith in the Nigerian insurance market as exemplified by its
wholehearted acceptance of the policy and to restate our support for
other initiatives that will boost the morale of those in the frontline
in the fight against this dreaded virus” she added.
Speaking further, she said, “although
the insurance programme is the initiative of the insurance industry
which also funded premium payment for same, the industry is ever willing
to contribute its quota towards the search for a solution to this
disease and wish all stakeholders well as the search continues”
She called on all stakeholders to support the government so that the nation can defeat this virus.
“Let us support the government and observe all the safety protocols” she advised.
“Let us support the government and observe all the safety protocols” she advised.
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