• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Thursday, July 3, 2025
  • Login
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Insurance

#EndSARS Claims-In-Action, Loss Adjusters To The Rescue

Nwanne Ikemefune by Nwanne Ikemefune
July 23, 2021
in Insurance
0 0
0
#EndSARS Claims-In-Action, Loss Adjusters To The Rescue
0
SHARES
269
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Loss adjusters have lifted themselves off the starting blocks of the claims process. They have started the process to douse the pains and challenges of the the insureds who were hit by EndSARS protest and the heat on them still lingers.

The face of insurance, loss adjusters, are acting like first responders and engaging the insureds that are in loss distress. Now, the claims terrain is ubiquitous with the steady stream of loss adjusters working on instructions received from their principals: the insurance companies.

An army of loss adjusting professionals are criss-crossing the flash points across the country after the EndSARS protests that left a huge loss of assets in both the private and public sectors, as well as the informal sector.

As insurance companies spread their liability net for covered losses, each company separately but mutually, engage their claims department from where loss adjusting firms receive instructions to move to site of loss. A lot of them are in such places to inspect extent of damage before the insured begins clearance of damage and restoration.

For an industry that insures the unexpected, the cost of the losses is expected to run into billions of naira and this would manifest after the initial report from loss adjusters is compiled. In the words of Mrs. Yinka Adekoya, managing director, Coronation Insurance, this is the moment to offer “our customers the most appropriate help as quickly as possible.”

Emphasising prompt delivery of service by all actors in the claims chain, Adekoya said, “we are aware that our customers are dealing with numerous difficulties at this time and the last thing they want is painful and challenging claims process.”

Affected insurance companies have stepped into full claims gear, despatching adjusters to where they are needed, the President Institute of Loss Adjusters of Nigeria, Mr. Reginald Egbuniwe, said the firm where he is the managing director, Grand Metropolitan Associates, has received several instructions like many others and he expects more. Despite the widespread destruction, he said only insured losses would be estimated. Total losses will come from the combined liabilities of all companies. However, he said tis unfortunate “a lot of shop owners may not be insured.”

Mr. Babatunde Fajemirokun, managing director at AIICO Insurance Plc, also assures of “doing all that is necessary to see our customers through the phase. We are asking our customers with covered cases to contact us for immediate assistance with claims.”

In a remote bull’s eye aim at the political indifference to national ills that midwifed the losses that insurers are responding to, Fajemirokun still exudes confidence it will hopefully lead to a better nation. His burst of confidence: “The year 2020 and all we have experienced as a nation are tailwinds propelling us forward and helping us to evolve. Indeed, the injection of new imagination, energy and innovative thinking into national discourse will take us there.”

Since claims would be limited to insured losses, Egbuniwe said the lesson “is for the public to embrace insurance because uncertainty is always present in everyday life and that is what insurance does, it takes care of uncertainty.”

Previous Post

AIICO Claims Door Revolves For #EndSARS Losses

Next Post

Third Party Policies, Others Get Prime Endorsement

Nwanne Ikemefune

Nwanne Ikemefune

Related Posts

Merger: NAICOM Hands Over New Licenses to SanlamAllianz Life and General Insurance
Insurance

Merger: NAICOM Hands Over New Licenses to SanlamAllianz Life and General Insurance

July 2, 2025
Image Spin: Insurance Professionals Spill Insurance Potentials to Secondary Schools And Undergraduates
Insurance

Image Spin: Insurance Professionals Spill Insurance Potentials to Secondary Schools And Undergraduates

July 2, 2025
Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future
Insurance

Nigeria’s Future Gets Insurers Paramount Appeal, Flaunt Bourgeoning Effectiveness And Reliability

June 30, 2025
Next Post
Head office Universal Insurance

Third Party Policies, Others Get Prime Endorsement

Please login to join discussion
NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

April 27, 2024
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
NCRIB And Universal In Pictures

NCRIB And Universal In Pictures

May 4, 2024
Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

April 13, 2021
ncrib logo

NCRIB Sets The Stage For Adaramola’s Tenure

June 7, 2023
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
Preferred PenCom Logo

PenCom Board Back-To-Work Pass, Gets Tick Over

May 4, 2025
Anchor MD Loses Father

Anchor MD Loses Father

2
Regulators Clear Guinea Insurance  For Private Placement

Regulators Clear Guinea Insurance For Private Placement

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Inaugurates Discount Rate Committee To Ease Insurance Contracts Under IFRS 17

2
Insurance Mastercard Joe Irukwu Passes On

Insurance Mastercard Joe Irukwu Passes On

2
AIICO Head office

Car Insurance Takes A New Turn With AIICO, ETAP ‘Redefine Partnership’

2
Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

2
Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

2
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

Federal Government & NAICOM Working On New Guidelines For Insuring Government Assets

2
Merger: NAICOM Hands Over New Licenses to SanlamAllianz Life and General Insurance

Merger: NAICOM Hands Over New Licenses to SanlamAllianz Life and General Insurance

July 2, 2025
Leadway Health HMO Establishes a Trend With Third Straight HMO of the Year Award

Leadway Health HMO Establishes a Trend With Third Straight HMO of the Year Award

July 1, 2025
Image Spin: Insurance Professionals Spill Insurance Potentials to Secondary Schools And Undergraduates

Image Spin: Insurance Professionals Spill Insurance Potentials to Secondary Schools And Undergraduates

July 2, 2025
Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future

Nigeria’s Future Gets Insurers Paramount Appeal, Flaunt Bourgeoning Effectiveness And Reliability

June 30, 2025
Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future

Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future

July 1, 2025
Insurers Improve Performance by 56%, Rake in N1.56tr in 2024, Commitment to Claimants Hit N622bn

Insurers Improve Performance by 56%, Rake in N1.56tr in 2024, Commitment to Claimants Hit N622bn

June 30, 2025
Prof. Bart Nnaji to Chair 2025 Oriental News Nigeria Summit

Prof. Bart Nnaji to Chair 2025 Oriental News Nigeria Summit

June 26, 2025
Investment: Insurance Ace Leads, Downgrades Volatility Where Other Financial Systems Grapple, Holds Over $40tr Assets

Investment: Insurance Ace Leads, Downgrades Volatility Where Other Financial Systems Grapple, Holds Over $40tr Assets

June 25, 2025
The Gambia Central Bank Studies NAICOM Regulation For Insurance Regulatory Upgrade

The Gambia Central Bank Studies NAICOM Regulation For Insurance Regulatory Upgrade

June 23, 2025
SanlamAllianz Flags Off 12-City Roadshow to Deepen Customer Engagement And Awareness

SanlamAllianz Flags Off 12-City Roadshow to Deepen Customer Engagement And Awareness

June 23, 2025
ADVERTISEMENT

Recent News

Merger: NAICOM Hands Over New Licenses to SanlamAllianz Life and General Insurance

Merger: NAICOM Hands Over New Licenses to SanlamAllianz Life and General Insurance

July 2, 2025
Leadway Health HMO Establishes a Trend With Third Straight HMO of the Year Award

Leadway Health HMO Establishes a Trend With Third Straight HMO of the Year Award

July 1, 2025
Image Spin: Insurance Professionals Spill Insurance Potentials to Secondary Schools And Undergraduates

Image Spin: Insurance Professionals Spill Insurance Potentials to Secondary Schools And Undergraduates

July 2, 2025
Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future

Nigeria’s Future Gets Insurers Paramount Appeal, Flaunt Bourgeoning Effectiveness And Reliability

June 30, 2025
Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future

Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future

July 1, 2025
Insurers Improve Performance by 56%, Rake in N1.56tr in 2024, Commitment to Claimants Hit N622bn

Insurers Improve Performance by 56%, Rake in N1.56tr in 2024, Commitment to Claimants Hit N622bn

June 30, 2025
Prof. Bart Nnaji to Chair 2025 Oriental News Nigeria Summit

Prof. Bart Nnaji to Chair 2025 Oriental News Nigeria Summit

June 26, 2025
Investment: Insurance Ace Leads, Downgrades Volatility Where Other Financial Systems Grapple, Holds Over $40tr Assets

Investment: Insurance Ace Leads, Downgrades Volatility Where Other Financial Systems Grapple, Holds Over $40tr Assets

June 25, 2025
The Gambia Central Bank Studies NAICOM Regulation For Insurance Regulatory Upgrade

The Gambia Central Bank Studies NAICOM Regulation For Insurance Regulatory Upgrade

June 23, 2025
SanlamAllianz Flags Off 12-City Roadshow to Deepen Customer Engagement And Awareness

SanlamAllianz Flags Off 12-City Roadshow to Deepen Customer Engagement And Awareness

June 23, 2025
Tech Innovator, Per Lagerström Takes Centre Stage as Headline Speaker For IMT 4.0

Tech Innovator, Per Lagerström Takes Centre Stage as Headline Speaker For IMT 4.0

June 23, 2025
Preferred PenCom Logo

Pension System Undulating Highs And Lows Creates Open Challenges

June 23, 2025
Generative AI Sweeping Reliance Destructive Without Human Oversight – NGX Chairman

Generative AI Sweeping Reliance Destructive Without Human Oversight – NGX Chairman

June 28, 2025
Public Servants Welfare Capacity Enhanced With Workshop on Group Life Assurance Policy

Public Servants Welfare Capacity Enhanced With Workshop on Group Life Assurance Policy

June 19, 2025
NEM Insurance NEM Insurance NEM Insurance
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel
  • Uncategorized

Recent News

Merger: NAICOM Hands Over New Licenses to SanlamAllianz Life and General Insurance

Merger: NAICOM Hands Over New Licenses to SanlamAllianz Life and General Insurance

July 2, 2025
Leadway Health HMO Establishes a Trend With Third Straight HMO of the Year Award

Leadway Health HMO Establishes a Trend With Third Straight HMO of the Year Award

July 1, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In