In its bid to regain the insurance industry’s shattered confidence and encourage insurance uptake among university students across the country, NICON Insurance Limited said it has settled claims of deceased students of the Federal University Oye Ekiti (FUOYE) who lost their lives and sustained injuries during the September 10, 2019 protest in the campus.
According to NICON, the injured students were paid one hundred and twenty thousand naira (N120,000) while relations of the deceased received one hundred and forty-five thousand naira (N145,000). Two students died during the clash with the police while three were injured.
During the cheque presentation, the Executive Director Marketing and Brand Operations, NICON Insurance, Debo Oladejo, explained that the policy tagged Student Welfare Insurance Scheme (SWIS) is an innovation by the company to cushion the effects on students and their sponsors in case of death or injury during school sessions.
Oladejo who presented the cheques in the names of Okonofua Esther, Mrs Mary Dada, Olamilekan Muiz, Elijah Azeez and Eyiola Ayomide, urged students of the institution to explore the option of dialogue whenever contention issues arise.
The Vice Chancellor of the University, Professor Kayode Soremekun, expressed delight over the claims payment to policyholders’ in the country, saying, “the amount of claims paid by NICON Insurance has really charged my perspective about underwriting firms across the country”. He added that the payment was premised on the N1,000 paid as premium by students.
Okonofua Joseph of the Faculty of Education and Kehinde Dada from the Faculty of Agricultural Science died with several left injured from gunshot wounds sustained after policemen opened fire on students during a demonstration led by the ousted Student Union Government (SUG) President, Awoodola Oluwaseun, against poor power supply.