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NAICOM, fire service to enforce public building insurance

By on April 1, 2015

The National Insurance Commission has concluded plans to set up a joint committee with the Federal Fire Service to ensure the implementation and enforcement of Section 65 of the Insurance Act, 2003 on the insurance of public buildings.

A statement by NAICOM on Monday quoted the Commissioner for Insurance, Mr. Fola Daniel, as saying this during an advocacy visit to the Controller General of the Federal Fire Service, Mr. Joseph Anebi.

Daniel informed the FFS boss that the insurance of public buildings was made compulsory by the provisions of section 65 of the Insurance Act.

He stated that the number of public buildings in the country was estimated to be 10 million, adding that it was sad that most of these buildings were not insured, thereby putting the lives and property of third party users at great risk.

Daniel explained that the object of the visit was to seek a mutually beneficial partnership and collaboration with the Service in the ongoing drive by NAICOM to implement and enforce compliance with relevant provisions of the extant laws relating to insurance of public buildings in the country.

He said that in recognition of the unique role of the fire service, especially in safeguarding the society from losses arising from inferno and other perils, the insurance law provided that 0.25 per cent of insurance premiums generated from public buildings be set aside to assist in the funding of the service.

The commissioner added that the fund was to be used for the procurement of firefighting equipment for the agency.

According to the statement, Anebi said the federal Fire Service was ready to collaborate with NAICOM to ensure effective implementation and enforcement of the law.

He said, “We already have an enforcement team in place that ensures compliance with our codes, which we can also deploy for this purpose. We also have inspectors who carry out risk assessments of buildings.

“The task of verifying compliance with the insurance law can also be added to the check-list of our inspectors.”

Daniel stated that membership of the committee would include employees of NAICOM, Federal Fire Service and representatives of insurance operators, and would be saddled with the task of driving the implementation of that aspect of the law.

 

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