The General Manager Corporate and Strategic Communication of Nigeria Ports Authority (NPA) Engr. Jatto A Adams has hinted that the NPA burnt facility is fully insured by a consortium of insurance underwriters covering the building for fire and theft insurance policy.
Jatto who made this known while responding to questions sent to him by our media outfit said that the lead underwriter has appointed a loss adjuster to evaluate the extent of loss to the building and its contents.
Though he did not disclose the names of the insurance companies, he disclosed that the Loss Adjuster will assess the value of damage NPA suffered as a result of the incident.
Jatto who did not debunk NPA’s plan to jack up it’s 2021 budget to accommodate the cost of reconstruction of the building and replacement of looted equipments as advised by the lawmakers, said that as NPA’s 2021 budget is yet to be approved, the figure the Ports Authority will be getting will be in the public domain when it is finally approved by the National Assembly.
Meanwhile there were indications that the facility which has a valid insurance cover for fire and theft would get double funding for it’s rehabilitation as stakeholders remain expectant on early commencement of the rehabilitation of the burnt structure.
In a brief chat with Mr. Lucky Amiwero, a maritime expert and president of National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), he disclosed that since the building was insured for fire and theft and NPA did not default in its premium payments, it is the responsibility of the insurer to rehabilitate the building and replace stolen items.
In his words “There are classes of insurance but if the losses suffered by the NPA in the incident were covered, then the insurer takes full responsibility for indemnifying the insured of the losses suffered. That is the essence of insurance. Going again to take money from government is double charge. I don’t want to call it fraud.
“Once the building is insured, the insurance company takes responsibility for everything; that is the truth,” Amiwero said.
Recall that when the lawmakers from the National Assembly visited the NPA headquarters recently to assess the level of damage and loss, they asked the Management of NPA to jack up its 2021 budget to cover for the rehabilitation and replacement of stole equipments.
Speaking during the visit, the Chairman, House of Representatives Committee on Ports and Harbour, Garba Datti Muhammad said that members both of the chambers of the National Assembly were in Lagos to assess the level damage done to the NPA building.
“We have gone round and seen the extent of the damage to the building and vehicles that were burnt in the fire incident. This will help the National Assembly to assist NPA in rebuilding the damage on the torched building. However, part of our discussion with them was for the NPA to bring its budget to the National Assembly because we advised them to adjust the budget to accommodate the rebuilding of the damages,” he explained.