Fire Insurance: Insurer pays N21 million claims to a furniture company

… As claims settlement hit N500m

In a bid to gain back the confidence of general public in taking insurance covers across the country, Anchor Insurance Company Limited is determined for prompt settlement of genuine claims to policyholders in the country.

The company made a payment of N21million to Bedmate Furniture Nigeria Company Limited, following the conclusion of claim adjustment of recent fire incident at its Lekki, Lagos office.

This payment was made to indemnify Bedmate Furniture for a claim that occurred in its showroom, which was attributed to power surge/overheating of electrical appliances leading to damage to the furniture on display at its showroom in Lagos.

Recall that the fire incident occurred in the midnight of 27th/ 28th April, 2017, and the claim was recently concluded and payment issued within three days of insured executing discharge voucher to the insurer.

A statement made available to The Guardian by the Company’s Brand and Corporate Communications Managers, Jamiu Osoba, said payment of the claim has indeed demonstrated the company’s readiness to support businesses by ensuring smooth and continuous operation through timely indemnification when such loss occurs.

He added that insurance plays a key role in sustaining businesses and individuals the world over to continue with their operations without any hindrance that may arise from any loss.

The statement added that the firm has paid over N500million in claims settlement since inception of the current year to a number of its esteemed clients across various sectors of the economy in order to ensure the continuity of their businesses, and to meet their targeted business projections.

He re-emphasized that Anchor Insurance is adequately capitalised with multi-disciplinary management, who has expertise in insurance business and backed by robust and solid technical partnership with leading Reinsurance underwriters and reinsurance brokers both locally and internationally.

“Prompt settlement of genuine claims has been our culture, and this we intend to keep doing so as to give confidence to the insuring populace, and create more awareness for insurance culture in Nigeria,” he stated


Source: Guardian