Insurance industry gives FG N500m to fight COVID 19

Insurance industry gives FG N500m to fight COVID 19

The Nigerian Insurers Association has donated N500m to the Federal Government as part of its contribution to the COVID-19 fight.

The Chairman, Nigerian Insurer Association, Mr Tope Smart, disclosed this to our correspondent in an interview.

 

He said, “Aside from the N11bn insurance cover that we arranged for the front-line workers, we equally came together and donated the sum of N500m to the Federal Government this week, as a further support to contain the spread of this pandemic.”

The NIA had initially disclosed an estimated liability insurance cover of N11bn approved for a maximum of 5,000 health workers employed in the fight against COVID-19.

Under the arrangement, the NIA promised to pay deceased doctors relatives N3m, and each of the pharmacists and nurses who died while treating COVID-19 patients in the country N2m, while other auxiliary workers would get N1m each.

The underwriters said this was part of their efforts to motivate the health workers in the front-line of containing the spread of the virus in the country.

According to the NIA, “A total of 19 life insurance companies have been accredited to provide the cover.

“In event of any fatality the relevant agencies of government will immediately advise the lead underwriter – FBN Insurance Limited who will make request for relevant documents needed for payment of the claim.”

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