Ogun Introduces Mandatory Insurance For Multi-level Buildings — Commissioner

Ogun Introduces Mandatory Insurance For Multi-level Buildings — Commissioner

The Ogun State Commissioner for Physical Planning and Urban Development, Olatunji Odunlami, announced on Thursday that all buildings above two floors must have an All Risk Insurance Policy Certificate. He made this known during a stakeholders’ meeting held at the Olusegun Osoba Press Centre in Oke-Mosan, Abeokuta…….CONTINUE READING 

Odunlami explained that this requirement is in line with the Ogun State Building Production Management Authority Regulation of 2022. He urged insurance companies to play an active role in ensuring compliance with the law. According to him, the All Risk Insurance Policy should be maintained by the contractor or developer and is designed to cover both human and material assets throughout the construction period.

“The policy protects those working on-site, individuals with lawful access, building materials, and equipment from any injury, loss, or damage. It also extends to passers-by, their property, adjacent properties, and any living beings within those properties,” Odunlami said.

He further emphasized that property owners and subsequent occupants must also obtain Building Insurance Policies to protect against risks such as fire, structural collapse, and other unforeseen events.

The Commissioner reiterated the government’s commitment to public safety and its focus on reducing construction site accidents. He added that the state’s objective is to protect investors and developers from financial losses while fostering a culture of risk management within the building and construction industry.

Earlier in the meeting, the Permanent Secretary of the Ministry, Engr. Sakirudeen Salaam, emphasized the need for stakeholders to collaborate with the government to maintain order in physical planning across the state. Representing the insurance sector, Yomi Babalola expressed gratitude to the state government for its efforts to work with insurers to mitigate risks and safeguard the public. He promised full cooperation from the insurance industry in implementing the regulations.