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N5m NYSC compensation: Insurers still to pay own claims

Stories by Rosemary Onuoha

Although, the federal government is paying N5 million each as compensation to the families of the 10 National Youth Service Corps (NYSC) members who lost their lives in the post- election violence, insurance companies that insured all contract staff of the Independent National Electoral Commission (INEC) will still have to pay compensation to families of the slain corps members.

Spokesman for the National Insurance Commission (NAICOM) told Vanguard exclusively that the N50million compensation is from the federal government; hence, insurers of the electoral process must pay claims to all that suffered death or injury as a result of the post-election violence.

It will be recalled that President Goodluck Jonathan had directed that a total sum of N50million be paid immediately by the headquarters of the National Youth Service Corps, (NYSC) Secretariat to the affected 10 families.

Vanguard investigations show that the sum insured stands at N262 billion if anything happens to the 400 ad-hoc staff contracted by INEC. Sum insured is the maximum amount of money that an insurer will have to pay, according to an insurance contract. Each corps member is being treated by INEC as entry level of the Federal Civil Service, on grade level 8, step 1 and the value of the insurance coverage is the total emoluments of a graduate and will get over N655,000 as compensation.

The submission of document to insurance companies by family members or next of kin of corps members who lost their lives is ongoing and the documents include death certificate, hospital report on the gravity of the injuries for those seriously injured and other relevant document to authenticate the next of kin of the victims especially from those who lost their loved ones.

Prof. Atahiru Jega, Chairman of INEC has said that no amount of money paid to families of the bomb blast victims would be enough to compensate for the lives lost, stating “There is perhaps no monetary compensation that can be considered adequate for this kind of national service. But still we can only provide compensation in accordance with the budgetary constraints”

Mr. Fola Daniel, Commissioner for Insurance said that the insurance regulator was pleased that the electoral body had put in place insurance policies for all the human resources engaged by INEC during these elections.

“NAICOM is pleased that adequate insurance cover was provided by the INEC for its entire ad-hoc staff who took part in the electoral process. NAICOM will collaborate with INEC to ensure that adequate claims are paid promptly to beneficiaries of those who lost their lives as well as those wounded in the bomb blast,” Daniel stated.


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