Business
NAICOM reiterates commitment to fight against Covid-19
The Acting Commissioner for Insurance, Thomas Sunday has reiterated federal government’s support to the insurance industry in the fight against COVID- 19.
Mr Sunday gave the assurance a few days after the insurance industry donated N11 billion life insurance cover to cater for the frontline health workers involved in the fight against COVID-19.
Sunday, who was a guest on TVC News stated that the industry does not hope for any fatality adding that if in any case such occurs, the re-insurers will be supported.
“The N11 billion is the liabilities insurance Industry has assumed on their own and we are not looking at a worst-case scenario, though we don’t pray for fatality in any case we have the backing of our re-insurers that when things are bad they will always be there for us”, he assured.
He stated that the N11 billion life insurance cover donation was meant to support the government’s effort.
“And for us, we believe there is a need for every citizen to support the Government especially now that so much resources have been poured while dealing with this COVID-19. And our core mandate in the insurance industry is to look at areas we can support the Government.”
“And therefore we get together and said that we look at the frontline health workers. doctors, nurses, laboratory workers other workers that were brought to COVID-19, which is to provide some benefits which will be to top up the one already provided by the Pension Reform Act 2014”, said.
He noted that the COVID-19 free insurance cover, which will last for one year was meant to cater for five thousand health workers presently involved in the fight against the pandemic in the 36 states and Federal Territory, excluding Federal and State Government workers who were already covered under group life insurance cover of the government.
It would be recalled that the Insurance Industry donated to the Federal Government N11 billion life insurance cover for the frontline health workers involved in the fight against COVID-19.
