Beneficiaries of dead police officers across the country are to get a minimum of N500, 000 claims from insurance companies under Group Personal Accident (GPA) cover put in place by the Nigeria Police Force. Following the recent bomb blasts and killings of police officers across the country, Police insurers are to pay the beneficiaries. Insurance claims to beneficiaries of deceased or injured officers from Police Corporal to the Inspector- General of Police (IGP) range from N500,000 to N5million.

A breakdown of the claims to employees of the police force, according to Vanguard findings showed that from Assistant Superintendent of Police (ASP) to Chief Superintendent of Police, CSP are to get N1 million; from Assistant Commissioner of Police to Commissioner of Police – N2million; Assistant Inspector-General to Deputy Inspector-General are entitled to N4million while the Inspector- General of Police gets N5million should anything happen to them while on duty.

Insurance companies, according to Vanguard findings, have so far managed the Police account professionally in spite of inadequate premium paid by the force though promptly. An insurance chief executive told Vanguard that if they were to go by the standard rates of group personal accident, the security body was supposed to pay N1.2 billion premium yearly but paid N600 million per annum for all its employees across the nation.

Further investigations revealed that the National Assembly cuts the insurance budget of the Police Force presented to the legislators which left the police with no choice than to halve its premium to insurance companies and which in effect reduces the benefit from underwriters to direct beneficiaries or concerned officers in event of death or injury.

Fourteen insurance companies, Vanguard can reveal, led by Leadway Assurance Company are on the Police GPA account for 2010/2011. The other insurers include: International Energy Insurance; Royal Exchange Assurance of Nigeria; Union Assurance Company; Sterling Assurance; Fin Insurance; Niger Insurance; Equity Assurance; Standard Alliance; Sovereign Trust; Guinea; Oasis; Staco; Regency and NICON Insurance. The 14 insurers had so far settled N270 million claims to beneficiaries of the Police Force, following the killings and death of police officers across the country.

The N270 million claims were paid directly to beneficiaries of late officers in batches as at January this year.Vanguard investigations revealed that the Nigerian Police Force forwards its claims in batches ranging from 50 and 100 to the lead underwriter on its account through the broker, Hogg Robinson Nigeria.

Further findings revealed that the Nigerian Police Force submits claims to insurance companies in batches for accountability and administrative purposes. A close source of the insurance industry told Vanguard on anonymity that the National Assembly should endeavour to approve sufficient premium for the police force in order to improve their benefit package with a view to getting a better performance of the force and reducing or wiping out completely its toga of bribery and corruption.

Findings showed that the police force is yet to submit claims of officers that lost their lives or were injured during and after the election to date though insurers have set a projection of 62 percent loss ratio on the police GPA. Vanguard source said, “ The GPA policy should cover officers 24 hours a day in the event of accident, whether on or off the job, as well as provide for dependants’ benefits in case an officer dies while in service whether through natural death or through the hazards of his profession so that the officer’s dependent’s would be adequately compensated” “These are some of the things the Nigerian police officers need to make them happy and carry out their constitutional duties properly. Any employee operating under good atmosphere and conditions will always put in his/her best”, he added.

http://www.vanguardngr.com/2011/06/dead-police-officers-get-n500-000-insurance-claims/