Nigerian insurers settle N4bn #EndSARS claims

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By Wisdom Deji-Folutile

The Nigerian Insurers Association has said insurance companies have so far paid N4bn claims from the estimated losses from #EndSARS protests in October last year.

NIA Chairman, Ganiyu Musa, disclosed this during a virtual press briefing in Lagos.

He said, “The number of insured accounts that were affected at the last count was about 2,000 insured losses and the industry has settled over N4bn claims in respect of the #EndSARS protest.”

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According to the NIA, 25 insurance companies recorded total claims of N20.4bn as of the end of February.

The companies reportedly set aside a reserve of N13.2bn to settle the claims.

In October, some youth commenced peaceful protests tagged #EndSARS at the Lekki toll gate area of Lagos to demand the disbandment of the Special Anti-Robbery Squad amongst other reforms in the Nigerian Police Force.