Insurance Brokers Condole With Iponri Market Fire Victims

Posted by African Examiner Letters/Rejoinders, News Thursday, March 13th, 2014

Kayode Adelowokan, Lagos

The Nigerian Council of Registered Insurance Brokers has on Thursday, March 13, 2014, condoled with victims of the recent fire that gutted the Iponri Shopping complex in Lagos, destroying properties worth millions of naira.

President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mr Ayodapo Shoderu,

According to media reports, no fewer than 30 shops were destroyed while goods worth millions of naira was lost after the Abibatu Mogaji model market, popularly referred to as Iponri shopping complex was gutted by fire.

A statement signed by the President of the Council, Mr Ayodapo Shoderu, noted that the loss was regretful, considering the fact that it has robbed many of the victims of their means of livelihood and was capable of creating social problems.

Shoderu noted that the recurrence of market fires in Nigeria should provoke proactive thinking about risk management on the part of governments and individuals on the need to embrace insurance for goods and persons

He advised relevant governments to put in place adequate insurance covers for markets in their jurisdictions, noting that such steps will relieve government of avoidable compensation to victims when losses occur.

The NCRIB President opined that the utilisation of services of Insurance Brokers will allow clients maximise their insurances through personalised professional advice rendered by them to cleints from the point of premium payment to loss compensation.