Insurance

COVID-19: Insurers to provide free N1m life cover each for health personnel, donate over N100m testing kits

From left: Managing Director, Sterling Assurance Limited, Fatai Lawal and Chairman, Nigerian Insurers Association, Tope Smart at the event.

Leave a comment and share

Chuks Udo Okonta

Insurers under the umbrella of Nigerian Insurers Association (NIA) have pledged to provide free N1 million life insurance cover for each health personnel and allied professionals who are attending to victims of Coronavirus (COVID-19) and also procure testing kits, protective materials worth over N100 million.

The Chairman of NIA, Tope Smart, disclosed this today at a press conference in Lagos, stressing that the life cover provides for N1 million for death and N1 million for permanent disability for medical personnel all over the nation who are at the frontline attending to coronavirus victims.

He noted that the frontline staff are exposed to a lot of risks and as an association, the body felt the need to provide cover for them against their exposure.

From left: Chairman, Nigerian Insurers Association, Tope Smart and Director of Operations Lanre Ojuola at the event.

Smart posited that the association shall be liaising with the Ministry of Health, Nigeria Centre for Disease Control (NCDC) and state governments to provide it with detailed information about the personnel so that the association can arrange appropriate cover.

He commended the efforts of the federal government and various state governments for the proactive way the pandemic has been handled, thereby reducing fatalities to the barest minimum.

“We commend the various initiatives of the Presidential Task Force, State Governments, Ministry of Health, Nigeria Centre for Disease Control to contain the spread, the Nigerian Insurers Association in aligning with the private sector would like to support these efforts.

“Our intervention will therefore be in two folds: Arrangements are on to procure testing Kits and protective materials for the use of medical personnel saddled with this responsibility. The materials will be delivered to the Nigeria Centre for Disease Control.

From left: Managing Director LASACO Assurance Plc, Segun Balogun and Managing Director, WAPIC Insurance Plc, Mrs. Yinka Adekoya at the event.

“In line with our profession as risk managers, NIA has decided to arrange a special life insurance cover for all health personnel and allied professionals who are attending to victims of COVID-19.

“We have therefore decided to provide the following benefits to those who may be exposed to the following risks in the course of their duties. These benefits apply to all medical personnel all over the nation. The benefits are: Death, N1 million and permanent disability N1 million,” he said.

Smart noted that the gesture does not prevent individual insurance companies from making their contributions.

He maintained that premium for the free life cover will be paid by all insurers, adding that the cover will be provided by life underwriters.

He implored the public to report to the association any insurance company that reneged on paying claims, whilst calling on the public to leverage insurance to mitigate their risks.

From left: Executive Director, FBNInsurance Limited, Moruf Apampa and Managing Director Zenith Insurance, Kenny Borisade at the event.

On status of policyholders with life assurance who died of COVID-19, the Executive Director, FBNInsurance Limited, Moruf Apampa, said all who died are covered as long as they have life policy.

One Comment

Leave a Comment

Your email address will not be published. Required fields are marked *

*