The Lagos State Safety Commission and the Nigerian Insurers Association, on Monday, began discussions with stakeholders on the enforcement of compulsory insurance on public buildings in the state.
The Director-General, Lagos State Safety Commission, Mr Lanre Mojola, said that the engagement was geared toward seeking for support on the initiative to domesticate the Federal Government law on compulsory insurance on public buildings.
Mojola said this at a Stakeholders Conference organised by the commission and the NIA with the theme: Lagos State Digital Compulsory Insurance (Public Buildings) for Lagos State Government – Safer Lagos Insurance.
He said that the compulsory insurance on public buildings known as the Owners Occupiers Liability would cover different entities of public places or public buildings, which included event centres, cinemas, schools, hospitals, worship centres, restaurants and bakeries.
The director-general noted that the state, in a bid to ensure the safety of lives and property, found it necessary to implement the statutory insurance for the benefit of all its residents.
According to him, “Safety is everyone’s responsibility, and statistics, as carried out by the commission, has revealed that over 480 buildings nationwide have collapsed within the last 44 years.
“This is the data we recorded, imagine so much more that were not recorded,” he said.
The President, Nigerian Council of Registered Insurance Brokers, Mr Rotimi Edu, said that the move by the state would be a plus to the economy of the country if gotten right.
Edu maintained that enforcing the law would save the government the pattern of paying for compensation when losses occurred.
”NCRIB is ready to cooperate and collaborate to let things work, as this is a gateway for us to promote our business and also add value,” he said.
Stakeholders at the conference included Associations of School Owners, hospital and cinema owners; event centre operators, bakery and restaurant owners.
They lauded the initiative, but appealed to the state government to ensure that the policy was affordable whilst urging the insurance companies to live up to the expectations of paying claims as and when due.
(NAN)
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