Chuks
Udo Okonta
The
insurance industry operators believe Local Government authorities could play
pivotal role in growing compulsory insurance in Nigeria.
President
Nigerian Council of Registered Insurance Brokers (NCRIB), Ayodapo Shoderu, in
an interview in Lagos, said Local Governments which are the closest authorities
to the grassroots could aid the growth of industry, especially in the area of
enforcement of compulsory building insurance.
Shoderu
noted that aside from the remedial interventions which Local Governments give
to victims of building collapse and other disasters in their domains, such
risks could be transferred to insurance for maximum benefit of the public.
He stressed
that evidence of compliance with building insurance could be embedded into
tenements rates requirements by LGs from house owners in their domains.
Shoderu
said adherence to the advice would make the councils more responsive to their
subjects as well as transfer the risk of losses they usually strive to bear on
behalf of the people to the professionals, while they in turn commit their
resources and time to other progressive populist ventures.
"Through
the identification with insurance by LGs the people at the grassroots would
become more informed about insurance and be properly educated that they only
needed to pay little monies for compensation for large risks when they
occur," he added.
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