Any building above two floors in Ogun State must obtain an All Risk Insurance Policy Certificate.
This is in line with the provisions of the Ogun State Building Production Management Authority Regulation (OGBPMA) 2022.
Commissioner for Physical Planning and Urban Development, Olatunji Odunlami, said this at a stakeholders’ meeting held at the Olusegun Osoba Press Centre, Oke-Mosan, Abeokuta.
He called on insurance companies to serve as watchdogs in the drive to enforce the provisions of the law.
Odunlami said the All Risk Insurance Policy should be maintained by the contractor or developer and would cover human and material assets during the construction period, ensuring that persons engaged to work on site or who had lawful access to be on site, as well as building materials and other equipment were protected against any form of injury, loss, or damage.
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“The coverage extends to innocent passers-by and their property, as well as adjacent properties, humans and animals domiciled in them,” he said.
Additionally, property owners and subsequent occupiers are also required to obtain a Building Insurance Policy to cover the building itself against fire outbreaks, damage, collapse and other unforeseen circumstances.
The commissioner reiterated the current administration’s commitment to enhancing public safety and reducing construction site accidents.
He said the protection of investors and developers from financial losses, promotion of a culture of risk management and responsibility, as well as supporting the growth of a resilient and sustainable building and construction industry in the state was their target.
The Permanent Secretary, Sakirudeen Salaam, an engineer; said the consultative meeting was held to publicise the provisions of the principal law and the five regulations that guided the activities of the ministry and its agencies, so that relevant stakeholders could collaborate with the government to achieve orderliness in the physical planning of the state.
Speaking on behalf of the insurance companies, one of the underwriters, Mr. Yomi Babalola, appreciated the state government for showing the willingness to work with their sector, to mitigate risk and protect the public from unforeseen circumstances, promising their full cooperation in achieving the provisions of the law.