Overview
The Insurance Administration Department was created in order to ensure that provisions of the Insurance Act
of 2003 sections 64 and 65 (1) and Pension Reform Act section 5 are fully implemented by the Federal
Government.
The department is responsible for the payment of death benefits to Public Servants who die while in service.
The Federal Government does this by way of insuring its employees and when death occurs, the Insurance
Companies/Underwriters pays the Next-of Kin what the deceased is entitled to. However, there are years
when the Government do not take up Insurance cover, in such situation, the Government will pay directly to
the Next-of-kin (NOK) the deceased’s entitlement.
Also the Insurance Act has made it mandatory that all the assets of the Government must be insured in order
to mitigate government’s loss.
Insurance Administration Department is one of the Four Departments under the Service Welfare Office and it
is made up of two Divisions;
– Life Insurance
– None Life Divisions.
Departmental Activities
- Verification of Death Claims
- Sensitization of MDAs on Group Life Assurance Scheme
- Monitoring of PFAs and Insurance Companies on Payments of Claims
- Procurement of Group Life Assurance Cover for Federal Government Employees
- Procure Insurance for Federal Government Assets
- Re-evaluation of Assets