Lagos State Government Partners Insurance Operators to Provide Risk Management Services to Workers
The Lagos state government said it is partnering with over 150 insurance brokers who serve as intermediaries and 20 insurance underwriters for the purpose of providing end-to-end risk management services to its workforce.
The state Governor Babajide Sanyo-Olu who stated this at the on going African Insurance Organisation’s (AIO) Conference holding in Lagos said this will come in form of various group insurance coverage for the workers.
Sanyo Olu, who was represented at the event by the state Commissioner for Finance, Mr. Rabin Olowo, said the state has 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 has perfected plans to put in place several emergency response agencies to safeguard the lives of over 22million 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 Enders 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.
He said given the positive response of the insurers to claims when risk occurs, his administration could not afford to shy away from the services of the insurance sector.
“This is why we have continued to partner with various insurance bodies and associations in the enlightenment of our people on the benefits of insurance and mitigating loses that might result from unforeseen occurrences, “he said.
He assured the insurers of his administration’s commitment to work closely with the insurance sector in its quest to rebuild a resilient and 24-century economy.
In her welcome remarks, the Chairperson, Local Organising Committee of the conference, Ebelechukwu Nwachukwu, said the theme of the conference which is: Rebuilding Africa’s Economy-Insurance perspective, was coming at a time when the corona virus pandemic had severely impacted economic activities all over the globe.
She noted that several conferences across different markets have focused on the impact of
COVID-19 on the industry from various perspectives.
He noted that the theme paper attempted to look at broader issues of how insurance could contribute to and benefit from the efforts at rebuilding the African economy post COVID.
“It is our hope and indeed expectation that participants will find the presentations insightful, enriching and of significant value. It is for this reason that the Local Organising Committee and the African Insurance Organisation have taken ample time to put at your disposal the crème de la crème of the insurance industry thought leaders as speakers and panelists. We are optimistic that you will find the conference, interesting, rewarding, insightful and exciting, “she stated.
She urged the participants to take the opportunity of the conference to experience immeasurable Nigerian hospitality; delicacies, warmth, rich cultural heritage, abundant tourism potentials typified by the beaches and mangroves and above all, the alluring beauty of Lagos and the ambience of the conference venue.
Specifically, she stated, “Apart from being one of the fastest growing cities in Africa, Lagos has some beautiful tourism sites, and they are all yours to explore.”