Schools approach insurance companies for kidnap and ransom cover – Report

Schools approach insurance companies for kidnap and ransom cover – Report

As schools increasingly become the target of kidnappers, operators have started to seek out the ways to cope with kidnapping from insurance companies.

Punch reports that school owners are now approaching insurance companies for protection should their schools become victims of kidnappers.

Read also: Kidnappers disguising as fishermen – Police

It said that following the trend, insurance companies are forging stronger ties with their foreign counterparts on how to beef up their capacities to be able to bear this highly risky cover.

The paper said the Chief Executive Officer, Boff & Company Insurance Brokers, Mr. Babajide Olatunde-Agbeja, confirmed the development.

Olatunde-Agbeja according to the publication said before now despite the availability of kidnap and ransom insurance cover in the country, it was not popular. However, he told the paper that the cover has now gained popularity due to spate of kidnap.

“It can be provided for anyone or organisation who asks for it, but it must be done secretly in a way that even the employees covered by it may not know it because of its discreet nature,” the Deputy General Manager, AIICO, Mr. Bosun Oduniyi, was quoted as saying by Punch in his response to the development.

Recall that six pupils of Lagos State Model College, Igbonla, Epe, abducted on Thursday, May 25, 2017, by a gang of gunmen are still in the kidnappers’ den.

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