Mutual Benefits Assurance takes NIIRA awareness to mall, highlights insurance benefits
Nike Popoola
Mutual Benefits Assurance Plc on Monday, commenced its public sensitisation drive on the Nigerian Insurance Industry Reform Act (NIIRA) 2025 to Ikeja City Mall, Lagos, as part of efforts to deepen public understanding of insurance and promote compliance with compulsory policies under the new law.
The insurance firm set up an awareness stand at the mall, where members of the public were engaged and educated on the benefits of insurance, as well as the implications of the NIIRA 2025.
Branded information materials and leaflets were distributed to shoppers and visitors, many of whom interacted with company representatives to seek clarifications on various insurance products and requirements.
The awareness campaign focused on the insurance policies under NIIRA 2025, which include Builders’ Liability Insurance, Occupiers’ Liability Insurance, Motor Third-Party Insurance, among others.
Recently, the Managing Director of Mutual Benefits Assurance Plc, Mr. Femi Asenuga, said the company decided to take the NIIRA awareness campaign to public spaces to bridge the knowledge gap that still exists around insurance in Nigeria.
“Insurance is not just a regulatory requirement; it is a vital safety net for individuals, businesses and the economy at large,” Asenuga said. “We are meeting people where they are, simplifying the provisions of the Nigerian Insurance Industry Reform Act 2025, and helping Nigerians understand how insurance protects lives, assets and livelihoods.”
He explained that many of the compulsory insurance policies under NIIRA are designed to protect third parties and the general public, not just policyholders, adding that lack of awareness has often been a major barrier to compliance.
“As an industry and as a responsible insurer, we believe education is key. When people understand the benefits of insurance and the protections it offers, compliance becomes easier and trust in the system grows,” Asenuga added.
Visitors to the stand were educated on how insurance can provide financial protection against risks such as accidents, property damage, workplace injuries, professional liabilities and unforeseen losses.
