By Chiamaka Ajeamo
Following the recent collapse of the 21-storey building under construction in Ikoyi, Lagos, the Nigerian Council of Registered Insurance Brokers (NCRIB) has condoled with the families of the victims while regretting the huge human and financial loss in the disaster
The Council equally seized the opportunity to call on Nigerians and the government at all levels to embrace insurance as a risk mitigator.
The President of the Council, Rotimi Edu, disclosed this in a statement, noting that the increasing cases of building collapse constitute a huge challenge to government and other stakeholders in the environment, hence the need to embark on better synergy to ensure compliance with extant building regulations.
Edu was of the opinion that in spite of the strident efforts of Lagos State government through its various dedicated agencies, the incidences of building collapse has not been fully stopped.
He therefore emphasised the need for compliance with the compulsory insurance of public buildings as stipulated in Section 64 & 65 of Insurance Act of 2003 which makes it mandatory for all contractors and their agents, among others to undertake insurance against death or injuries to third parties to a public building in the event of a disaster of this nature.
He also specifically highlighted the crucial roles of insurance brokers who are professional intermediaries in the insurance value; have the duty to advise clients about what to insure, how to insure and how to pursue their claims in the event of occurrence of loss.