#EndSARS@1: Insurance coverage corporations unveil report, pay N9bn claims on deaths, property

Insurance coverage corporations below the aegis of the Nigerian Insurers Affiliation have paid N9bn in claims to prospects who suffered losses throughout the public protests in opposition to police brutality, also referred to as #EndSARS protests, in October final yr.

Lootings, destructions and deaths had marred the #EndSARS protests.

In the meantime, as varied teams plan to stage memorial protests in varied elements of the nation this week, insurance coverage corporations on Monday launched a report detailing the claims they’d paid previously one yr to victims of the lootings and destructions that characterised the protests.

A report obtained completely from the operators by our correspondent on Monday revealed that the claims had been paid on three useless individuals and different property losses.

In accordance with the report, the insurance coverage corporations settled claims on 718 instances of vandalisation; 93 instances of looting; 113 instances of theft; and 136 instances of lack of money.

Additional findings revealed that 99 claims had been settled on malicious injury; eight on enterprise interruptions; 455 on housebreaking assaults; and 912 on hearth and burnt websites.

Final October, some youths had commenced peaceable protests tagged #EndSARS to demand the disbandment of the Police Particular Anti-Theft Squad and different reforms within the Nigerian Police Pressure.

Because the protests persevered, it was taken over by hoodlums who launched into large lootings and destructions.

Following the ugly incident, the Commissioner for Insurance coverage, Mr Sunday Thomas, assured stakeholders that the business would pay all real claims.

He mentioned, “A crop of individuals have talked concerning the functionality of the business to pay. I don’t know the place that doubt is coming from as a result of so far as I’m involved, insurance coverage exists for instances like this.

“What we must be asking ourselves is whether or not these properties are insured. Are premiums paid? So long as these questions are within the affirmative by way of reply, I can relaxation guarantee everybody that the claims might be paid realizing fairly properly the character of insurance coverage and the way it works.

“That’s the reason we’ve insurance coverage and reinsurance which is the second stage. All of the property might not essentially be domesticated.

“The international corporations are additionally concerned on this matter. So we don’t must trouble ourselves over these. It’s a time for the insurance coverage business to showcase its capabilities. And I can relaxation guarantee most of the people that the insurance coverage business goes to be alert to its duties. There’s nothing to fret about.”

Thomas had urged the enterprise world and people to be taught and see insurance coverage as a fallback place for them.

Copyright PUNCH.

All rights reserved. This materials, and different digital content material on this web site, is probably not reproduced, revealed, broadcast, rewritten or redistributed in entire or partially with out prior specific written permission from PUNCH.

Contact: [email protected]