In a significant move to enhance compliance and promote insurance penetration in Nigeria, the National Insurance Commission (NAICOM) and the Federal Fire Service (FFS) convened at the NAICOM Headquarters today to review and fortify their collaborative efforts.
During the meeting, both entities agreed to integrate the Fire Insurance Policy into the checklist for approvals conducted by the Federal Fire Service. This strategic decision aims to ensure that public buildings and buildings under construction comply with necessary insurance policies, thereby protecting public assets and promoting financial security in case of fire-related incidents.
The Federal Fire Service, which plays a pivotal role as a member of the committee on the insurance of public buildings and buildings under construction, reaffirmed its commitment to boosting compliance levels. By incorporating the Fire Insurance Policy into their approval processes, the FFS seeks to reinforce the importance of fire insurance coverage and its role in safeguarding investments and mitigating risks associated with fire outbreaks.
The collaboration between NAICOM and FFS underscores a shared objective of increasing insurance awareness and adoption across Nigeria. This initiative is expected to contribute significantly to the growth of the insurance sector, ensuring broader coverage and better protection for public and private infrastructures.
