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VI
NIA Highlights Role of Insurance in Preventing Permanent Financial hardship
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THISDAYLIVE
Ebere NwojiThe Chairman of the Nigerian Insurers Association (NIA) and Managing Director/Chief Executive Officer of Rex Insurance Limited, Mrs. Ebelechukwu Nwachukwu, has highlighted vital role playedby insurance in ensuring that disaster does not turn into permanent financial hardship for citizens.
Nwachukwu stated this while presenting her goodwill message at the official launch of the Lagos State Building Insurance Scheme, an initiative designed to enforce compulsory building insurance across the state.
But it can ensure that tragedy does not become permanent hardship,” Nwachukwu said.
She observed that although compulsory building insurance has long existed within Nigerian statutes, enforcement and compliance have historically been weak.
She noted that Lagos State was setting a strong precedent by leveraging modern technology, geospatial intelligence (e-GIS), and digital enforcement to bridge the compliance gap.