Insurance operators in Lagos are collaborating with the Lagos State Safety Commission to institute compulsory School Safety insurance scheme for all public and private schools in the State.
The plan which is still at discussion stage was initiated by industry leaders in insurance industry while discussions for its full take off is on going between Nigeria Insurers Association (NIA) and Lagos State Safety Commission.
At its last council meeting in Lagos, it was gathered that NIA members have agreed on modalities for the scheme in order to ensure that it is workable and beneficial to the school children, the school authorities and other stakeholders.
A source close to NIA council disclosed that in the last meeting between the insurers and the state safety commission, it was agreed that the school safety insurance would be mandatory for all schools when it takes off.
“When it takes off all schools will be made to have insurance cover for their teachers, students and pupils, and school buses”.
According to the source, discussions on this have reached advanced stage and implementation will soon take off.
The state Governor Babajide Sanwo-Olu who stated this at insurance conference in Lagos explained that this would come in form of various group insurance coverage for the workers.
Sanwo Olu, who was represented at the event by the state Commissioner for Finance, Mr. Rabin Olowo, said the state had perfected plans to bring all its workforce under various group insurance coverage including Group Personal Accident Insurance Cover, Group Life Insurance, adding that his government had perfected plans to put in place several emergency response agencies to safeguard the lives of over 22 million people in the state.
Lagos, he stated, cannot afford to shy away from this responsibility.
He commended the effort of insurance sector operators in responding to claims from #endSARS protest adding that it served as an acid test for the industry.
According to him, “#endSARS experience was a test and we are grateful to insurers for taking responsibility and it proves that insurance is working. I encourage Nigerians to buy insurance that is why we are partnering with 150 brokers which serve as intermediary to over 20 insurance companies to provide end to end risk management services for all classes of insurance in the state including group life.”
The Nigerian Council of Registered Insurance Brokers (NCRIB), which gave the assurance, said families of victims of the accident involving a train and staff bus belonging to the Lagos State Government would receive their insurance benefits from their underwriters if they were insured.
Also, the National President of the Association of Registered Insurance Agents of Nigeria (ARIAN), Kunle Odewunmi, on his part expressed the Association’s heartfelt condolences to the families of those who lost their lives and wished the victims a speedy recovery.