Akin to the role of the quarterback in American football acting as the line of protection from the opponent forays, the tiers governments are advised to accept insurance as a built in mechanism that will deliver sustainability to most of the effort government are offering.
President of the Chartered Insurance Institute of Nigeria, Sir Muftau Oyegunle, at the 2021 Insurance Industry Consultative Council media retreat at Asese, Ogun State, said government could make health insurance compulsory by subsidizing the premium. He said this has been done successfully in other countries and, he therefore, inferred Nigeria could be in that number.
Another area Oyegunle said insurance cover should not be compromised is the compulsory insurance, taken into account the absence of any form of insurance cover for the recent collapse of 21 storey 360 Degrees apartment at Gerald Road , Ikoyi Lagos on November 1, 2021.
He said that the building got off to that level and with up spiralling subscription and yet was able to ignore insurance cover culminating in a single event where 45 deaths were recorded and many wounded and several missing or unaccounted for, “exposed the level of decadence in our society. It simply revealed the level of settlement in our country.”
Expecting that all things go well with Lagos state government inquiry into the collapse where contending interests might work against its report, Oyegunle said the report the enquiry would submit would be revealing.