NIA Urges Building Contractors To Take Insurance Cover

The Nigerian Insurers Association has advised the construction industry to abide with relevant laws of building and take appropriate insurance cover.It was stated while commiserating with victims of the recent five-storey building that collapsed in the Lekki area of Lagos State. it also stated that, “All the stakeholders in the construction industry should take appropriate steps to ensure compliance with the extant laws to stop the needless loss of lives and property and the resultant problems for the families”.

According to the NIA, all over the world, insurance is a risk mitigating mechanism designed to bring succor to those who lose their relations and/or property.

It added that as a nation, people should learn to place premium on human lives by doing the needful, adding that this was where the insurance companies could be called to action.

According to insurance constitution, it has been noted that no person shall build moore 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 or loss of life to or damage to property of any workman on the site or of any member of the public.’

The association said the Lagos State Government had domesticated the law on insurance of buildings under construction, adding that what remained was for the law enforcement agents to enforce the law. The nation could not afford to waste lives of the citizens.

The association regrets the loss of lives and the valuable property as a result of building collapse cases recorded in different parts of the country.

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