Insurance companies have paid N11bn out of the N20bn worth of properties damaged during the 2020 #EndSARS protest, the Nigerian Insurers Association (NIA) has said.
The Chairman of the association, Ganiyu Musa, revealed the amount during a media briefing in Lagos.
Musa said, “As of January, insurers have paid over N11bn as claims that arose from the #EndSARS protests of 2020.”
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He said the association will discipline erring insurers who fail to pay genuine claims.
Nigeria experienced a nationwide protest which was caused by the series of police brutality in the country.
The impact of the protest had lingered as businesses and governments are still counting losses incurred during the protest.
At the peak of the #EndSARS protest properties and items worth over N73 billion were vandalised by thugs.
During the protest, a total of 2,000 insured businesses were affected across Nigeria according to NIA.
NIA had estimated the total claims at N20bn and said in October last year that N9bn worth of claims have been settled.
Musa noted that between October 2021 and January 2022, additional N2bn was paid to policyholder.