The Joint Committee on Insurance for Public Buildings and Buildings Under Construction has resolved to establish a database to ensure that only buildings with approved documents are insured.
This was part of the highlights of the 4th meeting of the Committee held Wednesday, May 14, 2025 at Bon Hotel Garki II, Abuja. The meeting was chaired by the Deputy Commissioner for Insurance, Finance and Administration, Mr. Ekerete Ola Gam-Ikon, and the stakeholders as part of their brief discussed progress and challenges in implementing insurance regulations for public buildings and buildings under construction.
The meeting welcomed a new conscript, members of the quantity surveying profession, and for the record Gam-Ikon recounted the Commission enforcement efforts with third-party motor insurance which would soon spread to public buildings and buildings under construction. He emphasised the importance of collaboration with regulatory agencies and highlighted the commission’s focus on claim settlement, citing the example of a fire incident at a Cash and Carry supermarket where insured parties received prompt claim payments.
On the state of implementation of compulsory insurance, the representative from Development Control said that enforcement of insurance requirements have started since January 2025 but are awaiting necessary documents to commence full enforcement. Other stakeholders, including the Nigerian Insurers Association (NIA) and the Federal Fire Service, shared their perspectives on the importance of complete documentation, risk assessment, and insurance coverage.
The meeting underscored the importance of collaboration and effective implementation of insurance regulations to promote safety and risk management in the construction industry. Dr. Talmiz Usman, Director of Legal Enforcement and Market Development at NAICOM, thanked committee members for their support and participation
