The dynamics of insurance claims on hijacked #EndSARS protest


By Olamerun Gbadebo

I join well – meaning Nigerians all over the world to condemn the killings, lootings and destruction of our national common wealth by hoodlums that hijacked the well celebrated, well coordinated and well thought through Endsar’s initiative. As a youth, in my 40’s I join hand with the leadership of this great movement to liberate Nigerians from police brutalities, SARS ill- treatment, robbery and all other illegal vices carried out during their operations.

Indeed, this initiative, confirm the longings of Nigeria that a enough is enough and also in the same regard, the event has established its fact in the soil of time, that the youth has a lot of capability to change the narrative of Nigeria governance culture.

Obviously, Endsars initiative has its merit and demerit that is presently being deliberated across all media platform including international television stations, radio stations, social media platforms and among all relevant authorities all over the world.

Over and over, Lagos state government has always displayed leadership in all ramifications, which is worth commending. The unrelenting push, by His Excellency Babajide Sanwo-olu, Governor of Lagos State, towards finding a lasting solution to Endsars before it was hijacked by unpatriotic element and in addition, the judiciary enquiry panel with a 200million naira compensation for the victims and families of endsars brutality is a welcome development.

The compensation the government is bringing on the table can only be a support, but the real indemnity should come from insurance industry whose responsibility is to protect the arm of the economy towards loss of lives and properties to be compensated back to its initial position before the occurrence of any eventuality. However the pros and cons of insurance principle is grossly misunderstood and more so insurance is not a way of life in this part of the clime unlike developed world where insurance is second to none in every progressive economic development.

My question is will the insurance company adequately indemnify the loss of property in its hundreds of billions of naira? Are the property damaged adequately insured? Will there be compensation on a car burnt during the riot with a comprehensive insurance policy? Will the business premises that has fire and burglary insurance be compensated if razed down by fire and looted during the riot? Is there any class of insurance that covers riot, terrorism, war risk, flood, thunder strike etc, does the public know there are additional premium needed to be paid for this class of insurance? This is a million dollar question that Endsars has brought to limelight between the teeming public, insurance industry and government at large.

As an insurance practitioner of two decades, a lot of underwriters have started discussing with the insured on claims payments for compensation on lives and property affected during the hijacked Endsars protest.

From experience, majority of the insurance purchases are not insured against riot, revolution, damaged caused by flood and all other exclusions. Hence, my concern for victims of this Endsars protest to get compensation from the insurance industry. However, I know very sure that hundreds of millions of naira will be paid by the underwriters for the duly insured Endsars protest victims but much more hundreds of millions of naira will be paid to the public on Exgra-tia bases, I mean bases on goodwill, bases on relationship, bases on business continuity plan, bases on the principle of insurance; it’s our beauty that the insurance industry will be bringing value and succor to affected Nigeria and investors on Endsars claims.

More importantly there is an urgent need by the insurance industry to intensify more on public awareness on the principles and clauses as detailed in the insurance operation all over the world.
This is just To Whom It May Concern.


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