By Jeph Ajobaju, Chief Copy Editor
Insurers have paid N5.4 billion claims to those whose businesses or properties were destroyed during the peaceful #EndSARS protest by youths last October but hijacked by hoodlums to vent violence across the country.
Nigeria Insurers Association (NIA) Director-General, Yetunde Ilori, disclosed the amount in Lagos, saying the insurance industry is doing more than the public knows.
She said the reason it seems insurance is not paying is that nobody would come out to say, ‘“I have been paid an amount of money’ for security reasons.”
The principles of insurance, Ilori explained, are that so many people contribute to solve the problems of unhappy people, per reporting by The Nation.
She added that there is a privacy policy on insurance which limits how much information an insurance company can give on claims paid.
Said Ilori: “We have to respect the privacy policy of policyholders. There are limits to how we can publicise what has happened to them.
“Nobody wants to say when his house got burnt, he was paid millions of naira. So, the insurance industry is doing much more than we all know.
“Everything revolves around the situation in the country where you cannot divulge too much information. But as an umbrella body, we will summarise what we are paying.”