The Nigerian Insurers Association (NIA), said its members have so far paid over N11 billion as claims for losses suffered during the 2020 #EndSARS protests.
The NIA Chairman, Ganiyu Musa, who disclosed this yesterday during a media briefing in Lagos, said: “As of January, insurers have paid over N11 billion as claims that arose from the #EndSARS protests of 2020.”
Musa said the NIA will continue to emphasise the need for underwriters to pay all genuine insurance claims and will not hesitate to sanction erring member companies.
Recall that in October 2020, protesters for two weeks had trooped out in Nigeria’s major towns and cities to seek a comprehensive reform of the police and an end to police brutality.
The protest, which was initially peaceful, turned violent after it was hijacked by hoodlums, leading to loss of lives and extensive damage to both private and government properties.
As of October 2021, the NIA had said insurance companies paid over N9 billion as claims for about N20 billion estimated losses suffered during the protests, while an additional N2 billion was paid between October 2021 and January 2022.
The association put the number of insured businesses affected during the protests across the country at about 2,000.
The NIA will continue to emphasise the need for underwriters to pay all genuine insurance claims and will not hesitate to sanction erring member companies.
