NIA Urges Flood Victims With Insurance Cover To File Claims

By LOVETH-AZODO CHIJIOKE, Lagos

The Nigerian Insurers Association (NIA) has called on policyholders whose homes, businesses, vehicles and other insured assets were damaged by the recent flooding in Lagos to promptly notify their insurers and begin the claims process to facilitate timely compensation.

The association, while sympathising with victims of the heavy rainfall that inundated several parts of Lagos in recent days, said insurance remains one of the most effective financial safeguards against the economic losses associated with natural disasters.

In a statement issued Thursday by its Chairman, Mrs. Ebelechukwu Nwachukwu, the association expressed condolences to families that lost loved ones and commiserated with individuals and businesses affected by the flooding, noting that many had suffered significant damage to property and livelihoods.

Nwachukwu urged affected policyholders to immediately contact their insurance companies, brokers or agents and submit the required documentation to enable the assessment and settlement of valid claims without unnecessary delays.

She said member companies of the association remain committed to honouring genuine claims in line with the terms and conditions of insurance policies, adding that policyholders requiring clarification on the claims process should seek guidance from their insurers or the association.

While stressing the need for proper environmental sanitation, responsible waste disposal and regular clearing of drainage channels to minimise flooding, she observed that natural disasters could still occur despite preventive efforts.

According to her, the recurring incidence of climate-related disasters reinforces the importance of insurance in helping individuals and businesses recover from unexpected losses and maintain financial stability.

The NIA chairman, who is also the Managing Director/Chief Executive Officer of Rex Insurance Limited, described insurance as a critical pillar of economic resilience, capable of helping policyholders return to their financial position before a loss occurs.

She reaffirmed the commitment of the Nigerian insurance industry to prompt settlement of valid claims and assured affected policyholders of the industry’s continued support as they recover from the impact of the flooding.