Insurance operators in the Life business have paid over N312.85 million group life claims to the Nigerian Police Force on deceased officers in 2016.
This was disclosed in the 2016 Nigerian Insurance Digest published by the Nigerian Insurers Association (NIA).
According to the NIA report, ARM Life paid the largest claims amounting to N54.29 million closely followed by Custodian Life Assurance Limited with N41.66 million.
Findings revealed that the security lost more officers in 2016 as against 2014 when about N72.24 million claims was paid on their Group Life Insurance.
Experts believe that government can do more by leveraging on insurance to cater for workers’ risks liabilities.