The Nigerian Insurers Association (NIA) has issued a statement promising to ensure the prompt payment of claims to victims of recent fire incidents in Lagos.1 The commitment comes in the wake of a series of tragic fire outbreaks, including those at Afriland Towers and Central Plaza on Lagos Island, which resulted in the loss of lives and property.
The Chairman of the NIA, Kunle Ahmed, extended his condolences to the affected individuals, families, and businesses.2 He assured the public that the association has identified its member companies that provided insurance coverage for the affected buildings and that all valid claims would be duly compensated by the respective insurers.3
This move by the NIA is aimed at rebuilding public confidence in the insurance industry, which has often faced criticism for its sluggish claims payment process.4 The association’s proactive stance is crucial, as fire incidents in markets and commercial buildings in Lagos are a recurring problem, and many victims, particularly small-scale traders, often do not have insurance.
The fire incidents have reignited the debate about the need for stricter enforcement of building safety codes and the importance of having adequate insurance coverage. The Lagos State government has also addressed the incidents, with officials from the Lagos State Emergency Management Agency (LASEMA) and the Lagos State Fire and Rescue Service responding to the crises and clarifying the circumstances of the fires.5
The NIA’s promise serves as a reminder to the public and business owners that insurance is a vital tool for risk management and resilience in a world where unforeseen events can have devastating consequences.6
