Lasaco Assurance moves to insure Lagos N4.76bn security apparatus

Security Helicopter

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Chuks Udo Okonta

Lasaco Assurance Plc has entered into negotiations with the Lagos State Government over insurance of the recently procured security apparatus worth about N4.76 billion, secured to combat crime in the state.

Inspen gathered that the underwriter had had meetings with agencies responsible for insurances of the state’s assets.

The Group Managing Director of the underwriting firm Olusola Ladipo-Ajayi, who confirmed the meetings, said the firm recently had meeting with the state’s Commissioner of Finance, adding that talks on the cover for the apparatus are on going.

He noted that the firm is the lead insurer for the Lagos State Security Trust Fund, stressing that assets of the agency are adequately covered by the firm and that discussions are on going on how to cover the recently procured assets.

It would be recalled that the state Governor, Akinwunmi Ambode, in his commitment to bolster security in the state, recently commissioned some security apparatus worth N4.765 billion.

Among the items commissioned include 100 4-Door Salon Cars, 55 Ford Ranger Pick-Ups, 10 Toyota Land Cruiser Pick-Ups, 15 BMW Power Bikes/Cycles, 100 Power Bikes, Isuzu Trucks, 3 Helicopters, 2 Gun Boats. 5 Armoured Personnel Carriers Revolving Lights, Siren and Public Address System, Vehicular Radio Communicators Security Gadgets, including Bullet Proof Vests, Helmets, Handcuffs, etc Uniforms, Kits, etc; and Improved Insurance and Death Benefit Schemes. Some of the security apparatus:





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