The figure on the reported claims from losses associated with #EndSARS has continued to rise time after time with the latest going past the N40bn mark.
The current figure on reported claims by insurance companies was disclosed by the chairman, Nigerian Insurers Association, Mr. Ganiyu Musa at a recent event in Lagos. About a month ago, the reported claims was put at over N20bn and counting.
So far, the claims paid by insurers is over N11bn, while claims processes that involves professional adjusters and claims consultants are ongoing to establish liability and initial and final claims to be paid. It is expected that the over N11bn claims paid would certainly move up.
Musa said the obligation of insurers to claims payment is fixed and insurers have remained committed to their service obligation to policyholders.