fbpx
INSURANCE & PENSIONSLABOUR

NAICOM Seeks NLC Support On Insurance Coverage For Workers

The National Insurance Commission (NAICOM) yesterday said that it was compulsory for all employers of labour to provide life insurance policy for their workers.

The Commissioner for Insurance, Daniel Fola, said this in Abuja when he visited the President of Nigeria Labour Congress (NLC), Abdulwaheed Omar.

Fola said that Section 9 (3) of the Pension Reform Act (PRA), 2004, made it mandatory for employers of labour, with more than four employees, to take the group life insurance policy for the workers.

He, however, lamented that state and local governments as well as private employers had refused to comply with the law.

Fola solicited the support of NLC in getting employers to comply with the law on workers’ insurance.

“The Pension Reform Act, 2004, is a national legislation, not a federal law that is binding only on the Federal Government.

“It is worrisome to note that only the Federal Government is fully compliant as it currently insures all its workers under the group life insurance scheme,” he said.

SOURCE

About Author

BWN
This is BizWatchNigeria. Nigeria's first online business Newspaper.

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.