The Federal Fire Service is set to mandate fire insurance as part of its building inspection checklist. This decision emerged from a strategic meeting between the National Insurance Commission (NAICOM) and the Federal Fire Service at the NAICOM headquarters, aimed at strengthening their collaboration.
Fire insurance provides coverage for losses and damages caused by fire incidents, allowing property owners to file claims in case of such disasters.
In an official statement, NAICOM announced, “The Federal Fire Service, as a core member of the committee overseeing insurance for public buildings and properties under construction, will now integrate fire insurance policy checks into their inspection processes. This initiative aims to enhance compliance and broaden insurance adoption across Nigeria.”
Key benefits highlighted from the partnership include:
- Improved Compliance: Ensuring that property owners adhere to insurance regulations.
- Increased Insurance Penetration: Raising awareness and adoption of fire insurance among building owners and developers.
- Risk Mitigation: Reducing risks associated with building collapses and other hazards.
- Economic Growth: Promoting investment, job creation, and financial stability.
The meeting, led by NAICOM’s Deputy Commissioner for Finance and Administration, Mr. Ekerete Ola Gam-Ikon, underscored the importance of this collaboration in fostering a safer and more insured environment in Nigeria.
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