From Left: Mrs. Adebola Odukale DG NIA, Mr Ahmed Adamu Ag. Dir. Research & Statistics, NAICOM, Deputy Commissioner for Insurance, Mr. Ekerete Ola Gam-Ikon, who serves as the committee chairman, Mr. Rasaaq Salami NAICOM

National Insurance Commission (NAICOM) is to synergies with State Governors and Houses of Assembly to domesticate insurance laws for better compliance.

The Deputy Commission for Insurance, Mr. Ekerete Ola Gam-Ikon, made this known Tuesday in Abuja, during the 2nd Meeting of the committee on Insurance of Public Buildings and Buildings Under Construction.

The day’s deliberations focused on identifying and exploring synergies with stakeholders, liaising with State Governors and Houses of Assembly to domesticate insurance laws for better compliance.

Front Row From Left: Bldr. Timothy Kenji Abuja Metropolitan Mgt Council, Mrs. Adebola Odukale DG NIA, Deputy Commissioner for Insurance, Mr. Ekerete Ola Gam-Ikon, who serves as the Committee Chairman Centre, Dr. Celestina Eke mni Fed. Min. of Housing & Urban Dev., Mr. Rasaaq Salami NAICOM

The committee also resolved to research similar policies in other jurisdictions, and sensitize stakeholders on the importance of adherence to compliance with compulsory insurances.

Gam-Ikon also emphasized the importance of the committee’s national assignment: developing a methodology to ensure compliance with the insurance of public buildings and buildings under construction. This effort aims to enhance the uptake of insurance in these sectors.

Recall that Section 64 of the Insurance Act 2003 makes it mandatory for individuals, governments and corporate organisations that undertake the construction of any building above two floors to procure a builder’s liability insurance policy (building under construction) from any of the NAICOM’ licensed Insurer in the country.