Insurance

COVID-19: Insurers yet to receive claims report on N11bn cover for frontline health workers

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Chuks Udo Okonta

Life insurance firms selected to provide cover for health workers accredited by the Government in the fight against COVID-19 pandemic, are yet to receive any claims report, Inspenonline can report.

The insurance sector collectively and individually, amongst other numerous palliatives supported the Federal Government by providing N11 billion life insurance cover to the frontline health workers employed in the fight against COVID-19

The cover was to enable families or named beneficiary of any medical doctor that dies in the line of duty to claim N3 million; Pharmacists/Nurses N2 million and others N1 million.

The premium which is in the sum of N112,500,000 for the cover was fully paid by the Nigerian Insurance Industry in line with the principle of No Premium No Cover, the Commissioner for Insurance, Sunday Thomas, said, stressing that a total of 19 Life Insurance companies were accredited to provide the Cover.

According to him the cover was for a period of 12 months effective April 14, 2020 and in event of any fatality, the relevant agencies of government will immediately advise the lead Underwriter – FBNInsurance Limited who will make request for relevant documents needed for payment of the claim.

The Managing Director, FBNInsurance Limited, Val Ojumah, told Inspenonline that as a lead underwriter in the business, he is yet to receive any claims report from NAICOM, which is expected to get report if any, from the federal Government.

He assured that operators will settle any claim immediately it is officially reported.

Director-General, Nigerian Insurers Association (NIA), Mrs. Yetunde Ilori, also told this medium that she is not aware of any reported claim arising from the cover granted frontline health workers.

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