NAICOM takes action to enforce compulsory insurance for public buildings

To drive the enforcement of compulsory insurance for public buildings across the country, the National Insurance Commission (NAICOM) in Abuja has established a technical committee.

The committee was inaugurated by the NAICOM Insurance Commissioner, Mr. Mohammed Kari, and is made up of members from NAICOM, the Federal Fire Service (FFS) from all areas and the Nigeria Insurance Association (NIA ).

But the steering committee is made up of the Insurance Commissioner, the Comptroller General of the Federal Fire Service and the Director General of the NIA.

Speaking at the inauguration of the committee, Kari said it was the committee’s responsibility to advise the steering committee on how public construction funds would be effectively and efficiently disbursed in the country.

Represented by Deputy Insurance Commissioner, Technical, Mr. Thomas Sunday, Kari regrets that NAICOM, under the National Insurance Act 2003, has the responsibility of ensuring that public buildings and buildings under construction are insured.

“By public buildings we mean all schools, hospitals, hotels and offices, and they have the responsibility to prove that they have complied with Article 65 of the 2003 Insurance Law,” he said. he declares.

“We have a responsibility to raise funds, monitor and also disburse funds with the aim of improving firefighting activities in Nigeria.

“0.25 per cent of the premium collected in respect of public buildings is supposed to be accumulated in fire boxes. But over time those funds have not been released because the fundraising process is not in place, ”he said.

He said part of the funds would be used to purchase vehicles for inspection, investigation and also advertising purposes.

The commissioner said that around 78 million naira had already been accumulated in the funds, adding that a model had been given to the market which would ensure proper application for raising more funds.

[Daily Trust]

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