In a letter to the Head of the Civil Service of the Federation by the Nigerian Council of Registered Insurance Brokers (NCRIB), the body commends the Federal Government’s maintenance initiative for public buildings, to be enforced by Executive Order 11signed by President Muhammed Buhari recently.
The NCRIB President, Mr. Rotimi Edu, mni, (pictured) described the Executive Order mandating ministries, departments and agencies MDAs to set up maintenance departments as the needed tool to keep the federal buildings across the country in good and proper state of maintenance; noting that the other side of the order is provision of employment for the unemployed.
Edu urged the Federal Government to also pay close attention to sections 64 and 65 of the Nigerian Insurance Act 2003, which stipulates in part that “No person shall cause to be constructed any building of more than two floors without insuring with a registered insurer his liability in respect of construction risks caused by his negligence or the negligence of his servants, agents or consultants which may result in bodily injury.”
However, he said the law weakens as it concerns insurance of government assets, stating that most assets of the federal government are not adequately and appropriately insured. He therefore, urged the federal government through the ministries, departments and agencies MDAs to stick to what the law demands and enforce this compulsory insurance.
Mr. Edu specifically highlighted the crucial roles of insurance brokers in the insurance value chain and have the duty to advise clients on what to insure, how to insure and how to pursue their claims in the event of losses.
He added that government remains the biggest insurance consumer in other climes stressing the need for government to engage insurance brokers for all its insurances