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Buildings In Lagos To Get Insurance Cover

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Lagos State Safety Commission  says its set to implement insurance for all public buildings and buildings under construction, setting the stage for insurance to be the risk carrier in the event of building collapse.

Director General of the state safety commission, Lanre Omojola, who was joined in the briefing to herald the position of Lagos by the insurance industry armada – Nigerian Insurers Association and Nigerian Council of Registered Insurance Brokers and the Chartered Insurance Institute of Nigeria, said the risk can longer remain with the state government that has acted severally as the final line of compensation to victims.

Omojola said in the last 44 years, the state has witnessed over 480 incidents of collapse buildings both under construction and residential buildings. The state Safety chieftain said government would rather focus on its responsibility to protect life’s and property and transfer the risk of public buildings and buildings under construction to insurers.

Pointing to the Commission’ mandate, Omojola said its has the mandate to issue safety compliance certificate to developers and property owners.

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