Pointing out the importance of the insurance of buildings above two floors was the Deputy Commissioner for Insurance, Technical, National Insurance Commission (NAICOM), Sabiu Abubakar.
Abubakar on Wednesday in Abuja said that it was “imperative” that the commission revisited the extant provision in the Insurance Act 2003 that directed that public buildings should be insured.
He said that a section also contained in the Act stipulated that buildings in the construction phase above two storeys should be insured.
Abubakar said, “Suffice it to say that it has now more than before become imperative to put in place measures to enforce the insurance of Public Building in Nigeria.
READ ALSO: NCC Holds Public Inquiry On Three Regulatory Instruments
“Furthermore, let me bring to your attention the provision of Section 65of the Insurance Act 2003 which stipulates that all public building shall be adequately insured.
“Also, Section 64of the Act provides that all buildings under construction above 2 floors shall be adequately insured.
“It is pertinent to note that the Commission can better achieve this task with the full cooperation of the Federal and State Fire Service. Today’s workshop is a part of the drive to achieve the above mandate as enshrined in extant laws.
“It is very worrisome to the Commission that most public buildings and buildings under construction above 2 floors are never adequately and appropriately insured, which further accentuated the need for urgent measures to be put in place by the Commission to ensure that these buildings are adequately insured. It is the desire of NAICOM to change this narrative for good.”
