Ogun, NCRIB partner to enforce compulsory builder’s liability insurance

The Ogun State Government Wednesday said it is set to collaborate with the Nigerian Council of Registered Insurance Brokers (NCRIB) in the area of disaster management and enforcement of law on Insurance of public buildings.

L-R: A board member of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Tunde Oguntade; Managing Director/CEO, Favour Insurance Brokers Limited, Mrs. Bunmi Ademosu; NCRIB President, Mr. Kayode Okunoren; Ogun State Deputy Governor, Mrs. Yetunde Onanuga; NCRIB Deputy President, Mr. Shola Tinubu; NCRIB Executive Secretary/CEO, Mr. Fatai Adegbenro and NCRIB Governing Board Member, Mr. Biodun Durodola during a courtesy visit of NCRIB delegation to the Deputy Governor at Ogun State Secretariat

Mr. Adewale Oshinowo, State Commissioner for Finance, disclosed this during a courtesy visit by a delegation from the Nigerian Council of Registered Insurance Brokers (NCRIB) to his office in Abeokuta.

Oshinowo said collaborating with Insurance Brokers who are the professionals in the area of risks management in case of unexpected circumstances would enable the state concentrate its resources on other challenging sectors thereby relieving the economy of the state.

He said that despite the dwindling economic situation in the country, the State Government would continue to put in place every necessary palliative measures to give relieve to its citizens.

“This is an awakening time to collaborate with each other when people appreciate a bail out in case of negative happenings so that they can have a second way out.” Oshinowo stated.

Earlier in his address, the President of the Council who also doubled as the leader of the delegation, Mr. Kayode Okunoren pointed out that for any nation to develop economically, insurance should be given a prominent place in the economy.

“No nation can have sustainable economic development by making insurance its last consideration” he said.

According to him, funds from insurance constitute a large percentage of investible reserves of most progressive nation apart from guaranteeing peace of mind which was germane to progress.

Okunoren regretted that the law on insurance of public buildings that was promulgated to protect citizens against losses was not adhering to by most states.

He therefore solicited for the support of the State the area of compliance with law enforcing public building and a disaster management through insurance.

Mr. Kayode Okunoren, President of the Nigerian Council of Registered Insurance Brokers (NCRIB), presenting the Council’s souvenir to Mr. Adewale Oshinowo, Ogun State Commission for Finance, during a working visit to the Commissioner at the State Secretariat, Abeokuta, Ogun State