A consortium of six insurance companies in Nigeria on Saturday put together an insurance cover of N5billion for health workers and volunteers tackling the coronavirus pandemic in the state.
The firms are – Leadway Assurance Company Limited, Custodian and Allied Insurance Plc, Lasaco Assurance Plc, AIICO Insurance Plc, Tangerine Life Insurance Limited and Ark Insurance Brokers Limited.
The premium covers medical, disability, incapacity and term life insurance for up to 1000 doctors, nurses, and other health workers in the state.
The spokesperson of the insurance companies, Mr. H. Fasinro of Fenchurch Group, noted that health workers and volunteer caregivers continue to play an invaluable frontline role in fighting the COVID-19 pandemic.
He said: “This partnership with the Lagos State Government will contribute towards the exemplary effort being made by the state in the fight against the COVID-19 pandemic.
“In support of this, Fenchurch Group has assembled a team of leaders in the Insurance industry that will, in partnership with Lagos State Government, help with the practical solution of providing medical, disability/incapacity and term life insurance cover for up to 1000 healthcare workers and volunteers who are in the front line in the fight against COVID-19 in Lagos State.
“They are all proudly Nigerian companies who have collectively agreed and shall bear the cost of all premiums to make available a pool of funds of up to (Five billion Naira) to settle all valid claims.
“The coverage of the policies will be limited to inpatient hospital cash and life insurance cover for healthcare workers and volunteers in Lagos State.
“We would like to take this opportunity to commend the bravery and appreciate the selfless services of our doctors, nurses and all the health and essential service workers who are working tirelessly to help combat this epidemic.”
The Chief Executive Officers who signed up the agreement are – Tunde Hassan-Odukale (Leadway Assurance Company Limited), Wole Oshin (Custodian & Allied Insurance Plc), Segun Balogun (Lasaco Assurance Plc), Babatunde Fajemirokun (AIICO Insurance Plc), Livingstone Magorimbo (Tangerine Life Insurance Limited), and Kayode Awogboro (Ark Insurance Brokers Limited).