A new report from the Nigerian Insurers Association (NIA) says insurance companies have paid N9billion claims to customers who suffered losses during the protests against police brutality, also called #EndSARS.
The #EndSARS protests in October last year was hijacked by hoodlums and led to death and physical destruction of assets – government-owned assets and private businesses.
During the protest, many Nigerians called for the disbandment of the Police Special Anti-Robbery Squad and demanded for other reforms in the Nigerian Police Force (NPF).
A report obtained published by The PUNCH on Tuesday revealed that the claims were paid on three dead persons and other property losses.
According to the report, the insurance companies settled claims on 718 cases of vandalisation; 93 cases of looting; 113 cases of theft; and 136 cases of loss of cash.
Further findings revealed that 99 claims were settled on malicious damage; eight on business interruptions; 455 on burglary attacks; and 912 on fire and burnt sites.
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Last October, some youths had commenced peaceful protests tagged #EndSARS to demand the disbandment of the Police Special Anti-Robbery Squad and other reforms in the Nigerian Police Force.
Following the ugly incident, the Commissioner for Insurance, Mr Sunday Thomas, assured stakeholders that the industry would pay all genuine claims.
He said, “A crop of people have talked about the capability of the industry to pay. I don’t know where that doubt is coming from because as far as I am concerned, insurance exists for times like this.
“What we should be asking ourselves is whether those properties are insured. Are premiums paid? As long as these questions are in the affirmative in terms of answer, I can rest assure everyone that the claims will be paid knowing quite well the nature of insurance and how it works.
“That is why we have insurance and reinsurance which is the second level. All the assets may not necessarily be domesticated.”
