LEADWAY Assurance and Anchor Insurance have been appointed as the lead underwriters for N20.1 billion comprehensive insurance coverage for police personnel and infrastructure.
The Federal Executive Council had given the green light for a comprehensive insurance initiative aimed at safeguarding police personnel, buildings and assets.
The government is set to partner with industry leaders, Messrs Total Security Insurance Brokers and Messrs Golan Heights Insurance Brokers, with a budget of N20.1 billion allocated for the project.
The key players will spearhead a consortium comprising nearly 100 brokers, ensuring a wide reach and robust coverage across various domains.
The package includes group life insurance for police personnel, property insurance for police buildings and barracks, as well as aviation and marine insurance to protect against unforeseen risks.
Leadway Assurance and Anchor Insurance have been appointed as the lead underwriters for the programme and will bring their expertise and financial prowess to bear.
The move demonstrates the government’s commitment to the wellbeing and security of its law enforcement officers and also highlights the importance of protecting critical infrastructure and assets.
The government aims to enhance the resilience and preparedness of the police in the face of potential challenges by working with reputable insurance providers and leveraging the collective expertise of industry professionals.
Experts say the collaboration between government entities, insurance brokers, underwriters and industry experts underscores a proactive approach to risk management and sets a new standard for ensuring the safety and security of both personnel and infrastructure within the law enforcement sector.
According to them, through the initiative, the government seeks to strengthen its support for the police force and bolster the overall resilience of the nation’s security apparatus.
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