The National Insurance Commission and the Federal Fire Service are set to execute a joint action plan for the enforcement of the dormant compulsory public building liability insurance.
The die was cast today in Abuja at a joint stakeholders top level meeting in Abuja where the two bodies resolved to begin enforcement of public buildings liability insurance in compliance with the demand of the Insurance Act.
It is expected that the new phase of enforcement which the joint venture has flagged off the road map today, will not only improve insurance penetration as compliance scales up but also impact on premium income for underwriters, the Nigerian Insurance Liability Pool as cession from pool members and compensation for members of the public who will be protected from the risk covered.
