The Nigerian Insurers Association (NIA) has assured individuals, families, and businesses affected by recent fire incidents at Afriland Towers and Emab Plaza in Lagos that claims will be processed and compensated promptly under valid insurance policies.

In a statement on Thursday, Kunle Ahmed, Chairman of NIA, expressed condolences to those impacted by the fires, which occurred on September 16, and emphasized the association’s commitment to supporting victims in their recovery.
“The Nigerian Insurers Association (NIA) extends its heartfelt condolences to all individuals, families, and businesses affected by the tragic fire incidents that occurred at the Afriland Towers and Emab Plaza,” Ahmed said.
“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.”

Ahmed said that the NIA had already identified member insurance companies that provided coverage for the affected buildings and assured that losses under valid policies would be duly compensated.
“Losses covered under valid insurance policies will be duly compensated by the respective insurance companies,” he stated. “The insurance industry remains committed to upholding its promise of protection and financial recovery in times of crisis.”

The chairman also used the occasion to highlight the broader importance of insurance in mitigating risks from unforeseen events.
“We urge members of the public and business owners to embrace insurance as a vital tool for risk management and resilience,” Ahmed said. “The importance of being insured cannot be overstated in a world where unforeseen events often have far-reaching consequences.”

The NIA’s statement follows concerns from affected property owners and business operators over the speed and reliability of compensation processes.

By confirming that insurers covering Afriland Towers and Emab Plaza have been identified, Ahmed sought to reassure stakeholders that claims would be handled according to policy terms.