FG insures civil servants with 15bn premium

The Nigerian Council of Registered Insurance Brokers (NCRIB) said that the Federal Government has paid the 2020 Group Life Insurance for all Federal Government workers in full.

The Vice President of the Council, Mr. Tunde Oguntade made the disclosure while speaking to members of the National Association of Insurance and Pension Correspondents (NAIPCO) shortly after their 2020 Annual General Meeting (AGM) yesterday in Lagos

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Mr Oguntade who represented the NCRIB President, Dr (Mrs) Bola Onigbogi at the occasion also called on Federal Government to engage the services of the registered insurance Brokers in order to mitigate the risk of contact failures.

He expressed displeasure on government’s failure to engage insurance Brokers in it’s insurance arrangement, stating that the Council will continue to engage the government on the need for them to always engage the services of the Brokers in their insurance arrangement.

According to him: “The 2020 Group Life is off the schedule because full premium has been paid on the account for the current year, there’s no lapse in cover at the moment.

“On government contracts what we are trying to do at NCRIB is to talk to ministers through our liaison committee and leadership that the contract failure thing you have all over the federation if you have insurance and you have Brokers arranging them for you, of course all those contracts failure will not be there because contracts failures are sometimes premeditated and they do not want to listen to us.

“We have been talking to them about all these roads, bridges and rails under construction on the importance of the government to engage the Brokers. If they don’t want the contracts to fail they know what to do. Imagine someone who go to roadside agent to ask for insurance policy. It’s the NCRIB that puncture that thing and say this is wrong. We will continue to do our best to engage government as long as government is willing to do the right thing, NCRIB will be there to support them.

On the issue of deepening insurance, he said there are several ways that can be done.

“You have an online model which is referred to as technology, you have physical, and you have referrals. If somebody tries to get you online, you are bouncing, tries referrals, you bouncing, he will try the last option which is physical correct. There’s nothing that is wrong. The fact that I want to see someone physically is that I wish to convince the person that I have the skill, I have tried to get to you through technology, people have tried to make impact for me to meet you but to no avail, let me now put my face to the picture so that you will be able to see. When you see people going to the market, it doesn’t mean that they do not have technology,” he added

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