Amaka Obiefuna

The Federal Fire Service has found the need to embrace fire insurance as it strengthens its partnership with the National Insurance Commission (NAICOM).

The partnership became necessary with the Federal Fire Service being a key member of the committee on insurance of public buildings and buildings under construction.

The Federal Fire Service took the initiative during its recent visit to NAICOM Headquarters to review and strengthen their partnership.

The Deputy Commissioner for Finance and Administration, Mr. Ekerete Ola Gam-Ikon, speaking at the meeting emphasised the importance of collaboration between NAICOM and the Federal Fire Service in promoting a safer and more insured environment in Nigeria.

Targeted to boost compliance levels and promote insurance penetration in Nigeria, the partnership according to the two organisations is expected to have enormous benefits, including improved settlement for beneficiaries of building collapse victims, mitigation of potential risks, protection of investments, and promotion of economic growth.

The agreement majorly include Enhanced Compliance which entails Integration of Fire Insurance Policy into the Federal Fire Service’s checklist to ensure adherence to insurance regulations.

Improved Insurance Penetration yielding Increased awareness and uptake of insurance products among building owners and developers.

Risk Mitigation involving Proactive measures to minimise potential risks associated with building collapse and other related hazards.

Also included in the agreement is Economic Growth which focuses on its contribution to Nigeria’s economic growth through increased investment, job creation, and financial stability.