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Chuks Udo Okonta
Most federal government’s Ministries; Agencies and Departments (MDAs) are battling to renew their insurance for this year owing to unreleased allocations, Inspenonline can report.
It was gathered that while some of them are presently out of cover, as their insurances have elapsed, others are pleading to Insurers to hold covers for a month, while awaiting the release of allocations from the government.
Insurance operators told this medium that the situation which has stalled the MDAs from releasing appointment letters, is impacting smaller insurance broking firms, which are presently struggling to meet their obligations.
“Business has been tough this year. The unrelease allocations from 2025 budget has stalled renewal of most government insurance businesses. The few of them that are insuring are only taking it for a period of one month.
“We are praying that things will improve after the Muslims and Christians celebrations.” One of the operators remarked.
