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Insurers lament fire outbreaks, want policy for markets

THE Nigerian Council of Registered Insurance Brokers (NCRIB) has encouraged the Lagos State Government to pay greater attention to market insurance across the state in order to give safety and succor to victims in the event of human and material asset losses.

Accelerated sanitary initiatives, particularly in vulnerable areas of the state, as well as more active public campaigns on how individuals might become more accountable for their own assets and those of the government, were emphasized by the group.

While expressing condolences to the Lagos State Government over the Apongbon bridge fire disaster, which resulted in the loss of valuables worth millions of naira, NCRIB President Rotimi Edu also emphasized the importance of insurance in risk mitigation, particularly in the protection of low-income assets in market places.

In a letter of condolence to Lagos State Governor Babajide Sanwo-Olu, Edu stated that the Council was distressed by the avoidable calamity, particularly at a time when the state government was deploying all methods to preserve Lagosians’ lives and property.

“With this, the government should turn more attention on the insurance of markets across the country, in order to provide safety and succour to the victims in the event of the aftermath of losses to human and material assets as this case in point,” Edu said.

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