Lagos Flood Victims Advised to Begin Insurance Claims Process Immediately

The Nigerian Insurers Association (NIA) has called on policyholders whose homes, vehicles, businesses and other insured assets were damaged during the recent flooding across Lagos State to immediately notify their insurance companies and begin the claims process.

The Association said prompt notification and timely submission of the required documentation would enable insurers to assess losses quickly and facilitate the settlement of valid claims.

In a statement issued in Lagos, the Chairman of the Nigerian Insurers Association, Mrs. Ebelechukwu Nwachukwu, expressed sympathy to individuals, families and businesses affected by the flooding caused by days of heavy rainfall across parts of the state.

She acknowledged the emotional, social and financial hardship suffered by many victims, particularly those who lost loved ones, homes, business premises, vehicles and other valuable property.

According to the Association, while preventive measures such as proper environmental sanitation, responsible waste disposal and regular clearing of drainage channels remain essential in reducing the impact of flooding, natural disasters can still occur despite such efforts.

Nwachukwu said the incident once again underscores the importance of insurance as a vital financial safety net that helps individuals and businesses recover from unexpected losses.

She urged all affected policyholders to contact their insurance companies, brokers or agents without delay to commence the claims process.

According to her, member companies of the Association remain committed to the prompt assessment and settlement of genuine claims in line with the terms and conditions of their insurance policies.

The NIA Chairman also encouraged policyholders who require clarification on claims procedures to seek guidance from their insurers, insurance brokers, agents or directly from the Nigerian Insurers Association.

Nwachukwu, who is also the Managing Director and Chief Executive Officer of REX Insurance Limited, described insurance as more than just a financial product, noting that it plays a crucial role in strengthening economic resilience by helping individuals and organisations recover quickly after unforeseen disasters.

She observed that with climate-related disasters such as flooding becoming increasingly frequent, maintaining adequate insurance coverage remains one of the most effective ways to minimise the financial consequences of such events.

Reaffirming the industry's commitment to policyholders, she said the Nigerian insurance sector remains focused on restoring insured persons to the financial position they occupied before the loss through the prompt settlement of valid insurance claims.

The Association also extended its condolences to all those affected by the recent flooding and wished them a speedy recovery as they rebuild their homes, businesses and livelihoods.