National Insurance Commission is set to draw out a policy that would ensure that all Ministries, Departments and Agencies (MDAs) take compulsory insurance cover on all Federal Government assets.

The Secretary to the Government of the Federation (SGF), Boss Mustapha gave the hint on Thursday in Abuja when the governing board of the Commission visited him.

The SGF who was represented by the Permanent Secretary, General Services Office (GSO), Maurice Mbaeri, asked the NAICOM team to come up with a draft document of what they want the circular to contain to guide his Office in properly articulating the document.

He said after careful review of the draft circular by NAICOM, which must meet the Federal Government’s expectations, a formal circular would be issued and released to all MDA’s directing them to ensure strict compliance.

Mbaeri said the HoS alone could not cover insurance premium for all the MDAs, and urged NAICOM to write to the Federal Government requesting the immediate decentralization of the payment of insurance premium amongst the MDAs.

Earlier, the Chairman, Governing Board of the National Insurance Commission (NAICOM), Abubarkar Sani urged the SGF to support the Commission in executing a compulsory insurance scheme for all MDAs.

“We want the SGF to issue a circular or letter to all MDAs on the necessity of taking a compulsory insurance policy for all Federal Government assets,” Sani said.

He said such a policy would cover government assets from unforeseen losses from incidents that may occur as a result of various circumstances.