Insurance

Insurers pay over N328.74m dead benefits on police officers

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Chuks Udo Okonta

Selected insurance companies paid over N328.74 million group life claims to Nigeria Police for officers who might have died in service, Inspenonline has learnt.

The figure was obtained from the Nigeria Insurance Digest 2017, published by the Nigerian Insurers Association (NIA). According to the publication, the amount was paid in 2017 by three life insurers namely, Custodian Life Assurance Limited; Mutual Benefits Assurance Life Assurance Company Limited and FBNInsurance Limited.

Insurance operators have pledged to leverage settlement of genuine claims to drive the industry’s rebranding initiative.

According to the Chairman Sub Committee on Publicity and Communication, Insurers’ Committee, Hassan Oye-Odukale, prompt settlement of claims remains the best advertisement for the industry, stressing that the operators would ensure that companies observe their claims responsibilities.

He said the industry over the years has being paying claims, adding that many organisations that were affected by disasters were revived by claims received from insurance companies.

He urged the public to leverage insurance to keep their businesses afoot. According to him, the nation cannot develop without a strong insurance industry.

The Director-General, Nigerian Insurers Association (NIA) Mrs Yetunde Ilori, urged the public to take advantage of conflict resolutions bodies set up by the industry to resolve all unpaid claims issues.

She noted that the NIA in a bid to ensure the public are not denied claims, set up a complaints bureau, adding that the National Insurance Commission (NAICOM) also has a bureau for settlement of claims disputes.

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