Mr Ben Ujoatuonu, Managing Director of the insurance firm, listed the new products in a statement on Friday in Lagos.

Ujoatuonu said that the products include third party fire and theft insurance cover as well as Burglary and Housebreaking Insurance policy.

He further listed the Third Party motor insurance and business interruption insurance, among others.

“The Third Party fire and theft insurance cover offers the middle-ground level of protection as it will give the policy holders better level of cover than the third-party only.

“But you will not be as well protected as if you had taken out a comprehensive policy.

”This insurance covers third party property damage; third party death and bodily injury; third-party medical treatment costs; theft or attempted theft of the insured vehicle and fire damage to the insured vehicle.

“The third party motor insurance provides benefits in the event of death or bodily injury to a third party, arising out of the use of the insured car and damage to property other than property belonging to the insured.

“The burglary and housebreaking insurance policy is designed to provide compensation against loss of or damage to one’s property as a result of burglary or any attempt threat.

”The cover also includes damage to building(s) for which the insured is responsible resulting from the theft,” the managing director said.

According to him, the business interruption insurance is a form of insurance coverage that replaces business income lost as a result of an event that interrupts the operations of the business such as fire or natural disaster.

He explained that the business interruption insurance was not sold as separate policy, but rather added to a property or casualty policy or included in a comprehensive package policy.

He noted that the company was presently meeting all its obligations, especially in the area of prompt claims settlement to clients and other stakeholders.

Ujoatuonu said that the insurer was liquid enough to carry out its civic responsibilities while capitalising on the potential in the retail market to deepen insurance penetration, as the wholesale market was already saturated.

“We have a competitive edge in claims settlement through investment in state of the art communication and information technology, thereby enhancing our operational efficiency and offer to pay off legitimate claims quickly after the execution of discharge voucher.

“We have a tractable but reduced claims process circle,” the insurance boss said.

He said that the insurance company was liquid to underwrite big insurance businesses in the sector of the financial industry.

He added that the credibility of the insurance company’s brand lay in its underwriting skills, innovative insurance solutions, financial strength, superior service and prompt claims settlement.

Universal insurance Plc is one of the nation’s largest personal lines insurers.

With over N11 billion in assets, it sells all lines of general insurance, including auto, property and commercial insurance.

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The Acting Chairman of the centre, Mr Gbenga Onayiga, said this at a one-day workshop in Kano on Monday.

Onayiga said the revival of the insurance scheme and improved welfare were part of viable programmes outlined by the centre to address challenges and build a vibrant media for an informed society.

He said that the centre accorded priority to capacity building to enable journalists meet the technological advancement to effectively discharge their constitutional mandate.

The centre also focused on encouraging communication research and adherence to ethical standards to promote professionalism in the media industry.

“We will not ignore the suffering of our colleagues and the family members of deceased journalists, hence the need for improved welfare and insurance scheme.

“The workshop is to develop a two-year working plan to fast track implementation of our programmes,” he said.

According to him, the centre will conduct sensitisation activities in other parts of the country to fast track adoption of sound policies and programmes aimed at transforming media operations in the country.

Onayiga said that the centre would utilise Information and Communication Technology (ICT) to achieve its objectives.

Malam Muhammad Garba, the Kano State Commissioner for Information, said the state government had provided an enabling environment for journalists and media organisations to operate without hindrance.

Garba, who inaugurated the workshop, said the state government had maintained harmonious working relationship with the media to fast track good governance.

The commissioner, who was also a former President, Nigeria Union of Journalists (NUJ), decried the lack of salaries and poor working conditions of journalists.

He said that the trend must change to achieve sustainable development in the sector.

He advocated the reconstitution of the NUJ’s Ethics Committee to check quackery and promote professionalism.

While lauding the initiative, Garba urged the centre to engage veteran journalists holding political posts and other privileged positions to enable it achieve its objectives.

Our correspondent reports that the event was attended by the NUJ National Secretary, Shuaibu Leman; General Manager, Vision FM Kano, Adamu Ladan; General Manager, Bronze Federal FM, Benin, Bimbo Oyetunde; and the Legal Officer of the centre, Sadiya Aliyu, among others.

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Mr Adeyemi Abubakar, the Head, Market Development of the commission, said this at a seminar for insurance journalists, organised by NAICOM in Uyo on Saturday.

Abubakar said the strategy of the commission for penetration would be to set up weekly insurance Community Development Service (CDS) for corps members in the states.

According to him, corps members who belong to the insurance CDS group, will go round to educate communities on the benefits of insurance.

Abubakar said that the move would promote public understanding of insurance mechanism, build confidence and help in the enforcement of compulsory insurance.

“We want to collaborate with NYSC for the establishment of weekly CDS on insurance in the states. They will go round to sensitise the people and educate them on the benefits of insurance.

“People need to begin to talk about insurance in schools and other places the way they talk about banking. We want to instil trust in the minds of the people to build their confidence.”

On compulsory insurance, Abubakar listed some of them to include builders’ liability insurance, motor third party liability insurance and the group life insurance.

He noted that the commission is also partnering with the states’ fire service, revenue office and states’ Head of Service to help in the enforcement of insurance schemes.

Abubakar regretted that the insurance sector which had numerous opportunities was grossly untapped, saying that the potentials will help to improve insurance premium and contribute to the growth of the Gross Domestic Product (GDP) of the country.

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