Banana Island building collapse due to contractors’ negligence, say insurance brokers
According to the Nigerian Council of Registered Insurance Brokers (NCRIB), “negligence” was to blame for the collapse of a seven-story structure in Lagos’ Banana Island neighborhood.
According to TheCable, the construction site’s building collapsed on Wednesday night, trapping some workers beneath the debris.
No fatalities were reported, according to a statement from the National Emergency Management Agency (NEMA), but personnel were trapped inside the structure and a reaction team had been dispatched to conduct search and rescue operations.
Rotimi Edu, president of the NCRIB, responded to the occurrence by describing it as an instance of contractor carelessness.
Although there were no reported casualties, the fall calls into question the ongoing refusal of building contractors to follow the country’s regulatory requirements for public buildings, according to a statement released by Edu on Thursday.
Edu claims that because public buildings are so sensitive, owners and builders must incorporate insurance covers.
With regard to public buildings, these policies include contractors all risk (CAR), public liability, and other provisions of sections 64 and 65 of the insurance legislation.
The NCRIB president claimed that the risk of total loss suffered by the owners of the collapsed buildings would have been significantly diminished if these insurance policies had been in place.
Edu urged the state government to complete its probe on the reason for the building collapse as soon as possible.
Additionally, he advised the state government to immediately inform the public of the findings and the steps to be taken to prevent further building offences in the state.
