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The Nigerian Insurers Association (NIA) has extended its heartfelt condolences to all individuals, families, and businesses affect­ed by the tragic fire incidents that occurred at the Afriland Towers and Emab PLaza in Lagos, with an assurance to prevail over its members to pay compensation to the vic­tims’ families with dispatch.

A statement by the body of insurers reads: “We deeply mourn the loss of lives and property and stand in solidarity with those who are grieving and rebuilding in the aftermath of this unfortunate event. Our thoughts are with you during this difficult time.

As the umbrella body for insurance and reinsurance companies in Nigeria, we wish to assure all affected parties that we have identified member companies who provided insurance covers for the said buildings and losses covered under valid insurance poli­cies will be duly compensated by the respec­tive insurance companies. The insurance industry remains committed to upholding its promise of protection and financial re­covery in times of crisis.”

We also use this moment to encourage members of the public and business own­ers to embrace insurance as a vital tool for risk management and resilience. The impor­tance of being insured cannot be overstat­ed, especially in a world where unforeseen events can have far-reaching consequences.

Together, we can build a more secure and responsive insurance culture across Nige­ria.