According to him, “In the light of recent building collapse in Lagos and Oyo State as well as other similar disasters, the NCRIB is quite touched. It is our belief that the unfortunate incidences are actually accentuated greatly by the lax of regulatory enforcement in the construction environment. To combat this, Government needs to be more proactive in implementing building laws.
“We have continually engaged stakeholders in the built environment and related institutions to elicit their input for a long lasting solution to the malaise. While the Council commiserates with the victims of the building collapse, we like to use this opportunity again to call on government to give more impetus to the implementation of the enforcement of compulsory building insurance as enshrined in Section 64 and Section 65 of Insurance Act 2003. Similarly, Nigerians are also advised to, on their own, insure their personal assets in order to mitigate their losses when and if losses of this dimension occurs.
Every individual should ideally live up to his responsibility of care by protecting whatever is valuable to him or her, both life and property. Our slogan has been :”Whatever is worth having, is worth insuring, “he said.
On the efforts to increase insurance penetration in the country, Tinubu said, “The Council is quite aware of the desire of the National Insurance Commission (NAICOM) to drive insurance penetration in the country.
This is commendable. While the entire industry operators are saddled with the task to make this vision come to pass, the NCRIB would soon be redoubling its efforts by making inputs into the initiative. We like to use this opportunity to appreciate NAICOM for its favourable disposition towards growing the industry and assure that our Council will continue to complement the Commission in this regards”.
The President said that, in order to enhance cross fertilization of ideas and exchange professional knowledge across international borders, it is most heartwarming that the Council’s delegation would be attending the 2019 British Insurance Brokers Association’s Conference in Manchester City, United Kingdom.
“The Conference which promises to be resourceful is themed “Leading the Way” and holds May 15-16, 2019. Aside meeting new faces and learning new things through the conference, the NCRIB delegation would also have the benefit of interacting with a team of professionals two leading insurance institutions in the UK, namely: Aon and Lloyds Underwriters, who have consented to train the Nigerian delegation on strategic areas of practice while in the UK.
“In a similar vein, the Council has commenced the sensitization of Members on the need to attend the 46th Conference and Annual General Assembly of the African Insurance Organisation which will take place from the 9th to 12th of June, 2019 in Johannesburg, South Africa. The Conference is organised by the Insurance Institute of South Africa (IISA), under the chairmanship of Thokozile Mahlangu, Chief Executive Officer of IISA.
By Maduka Nweke
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