Firms’ 11 billion naira life cover for NCDC 5000 health workers fighting against coronavirus pandemic

In fulfilment of its pledge, some stakeholders in the industry have rolled out insurance cover worth N11 billion for about 5000  health workers.

The beneficiaries are those engaged by the Nigerian Centre for Disease Control (NCDC).

The Acting Commissioner for Insurance, Olorundare Sunday Thomas, who broke the news, said the cash had been presented to the Chairman, Presidential Task Force on COVID-19.
This is coming after weeks of intrigues on the modalities.

The cover, which began from April 12, Ag. commissioner said, would cover 12 months.

He said 19 life insurance firms were accredited to provide the cover, stating that for any fatality, the government agencies would advise the lead underwriter – FBN Insurance Limited – which would request for documents to pay the claim.

He said 19 life firms were accredited to provide the cover and that  the lead underwriter FBN Insurance, would handle this.

Also, the Nigeria Insurers Association (NIA) Director-General, Mrs Yetunde Ilori, said the N11 billion  cover is for doctors, pharmacists, nurses and other ancillary personnel and volunteers.
She said the benefits to be paid to the families or beneficiaries of those who die on duty is N3 million for medical doctors, N2 million for pharmacists and nurses andN1 million for others.

She explained that the premium of N112.5 million, which is for one-year coverage has been paid in line with insurance contracts, especially as it relates to the No Premium No Cover policy.

She said: “The life insurance policy document COVID-19 Intervention Team Life Insurance Cover detailing the extent of cover and benefits payable under the policy was earlier submitted to the Minister of Finance, Budget and National Planning Mrs. Zainab Shamsuna Ahmed by the Acting Commissioner for Insurance, Mr. Sunday Thomas and handed over to the Chairman, Presidential Task Force on COVID-19, by a member of Governing Council of Nigerian Insurers Association (NIA) Mrs. Folashade Joseph and President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Dr. Bola Onigbogi under the watch of the minister.

“The insurance coverage is part of the industry support to the Federal Government as the battle against COVID-19 continues.There are other initiatives at the state level and the main idea is that the industry must join other stakeholders in this battle.

“We thank the Federal Government for its faith in the  insurance market as exemplified by its wholehearted acceptance of the policy and to restate our support for other initiatives that will boost the morale of those in the frontline in the fight against this dreaded virus.

“Although the insurance programme is the initiative of the industry which also funded premium payment for same, the industry is ever willing to contribute its quota towards the search for a solution to this disease and wish all stakeholders well as the search continues.”

She called on stakeholders to support the government so that the nation could defeat this virus.