Insurers association: Over N11 bn paid for losses suffered during #EndSARS protests

 

The Nigerian Insurers Association (NIA) has disclosed that insurers paid over N11 billion as claims for losses suffered during the 2020 #EndSARS protests.

This was disclosed on Tuesday by chairman of NIA, Ganiyu Musa at a media briefing in Lagos.

“As of January, insurers have paid over N11 billion as claims that arose from the #EndSARS protests of 2020,” Musa said.

According to him, NIA will continue to emphasise the need for insurance companies to pay all genuine insurance claims and will not hesitate to sanction erring member companies.

In October 2020, protesters 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.

The NIA as of October 2021 had stated insurance companies paid over N9 billion as claims for about N20 billion estimated losses suffered during the protests.

According to Musa, 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.