The Nigerian Council of Registered Insurance Brokers (NCRIB) has concluded a plan to offer group personal accident cover for 15 selected traffic volunteers.

The compensation, in the case of death, is N1million.

The president of the Council, Dr. Bola Onigbogi, said this when conferring the brand ambassador awards on selected traffic volunteers at the 2020 National Insurance Brokers Conference and Exhibition in Lagos.

Onigbogi, who applauded the traffic volunteers for being unsung heroes by helping to solve the perennial traffic situation in Lagos, advised Nigerians to take volunteerism as a way of solving social problems.

She said the council had carefully considered the efforts of traffic volunteers and their impact on traffic management, especially in Lagos.

Onigbogi presented the policy document to the volunteers at the event.

Speaking on the themed, ‘Rebuilding institutions post COVID-19’, the Chief Executive, British Insurance Brokers Association, Steve White, noted that the effect of COVID-19 would be severely felt in retail and real estate sector.

According to him, businesses may be impacted by lower demand and run the risk of over-stocking that could persist until production reduces or demand picks.

He added that customers were likely to delay payments to save cash while suppliers would be desperate to be paid for ordered goods.