Cross River Government Has Concluded Plans To Insure Assets – SA Insurance

In Breaking News, Business & Economy, International News, Interviews, National News, News, Politics, Reports

By Archibong Jeremiah

The Cross River State Government has concluded plans to insure all its assets.

The disclosure was made by the Special Adviser, Insurance and License to Governor Ayade, Dr. Godwin Iyala who spoke to CrossRiverWatch TV.

According to him, “Our insurance policy is on course, as I speak with you, we have enumerated all the Government asserts. We have provided cover for the legacy projects, we have as well delineated our priorities which we are going to be doing in phases.

“As I speak also the garment factory, the independent power project, the Calabar International Convention Center, the Governor’s office just to mention but few are all that have come under our insurance cover.

“By the end of June the assessment would have been completed for us to place all of them appropriately, you know before you place insurance you have to assess the structure itself and its components in order to get the complete value, those things I mentioned appreciates everyday, they never have depreciation the always appreciate”.

Continuing he said, “So in insuring you have to factor in a lot of things, maybe projecting the next two three years how it will be and then you place in the market, make what we call reinsurance arrangement; all which we have proactively done”.

As to the value of the total State asserts, he maintained that the process is still ongoing stating that, “Like I told you we are segmenting them, the legacy edifice is first and then we move into other things, by the end of the exercise generally, I should be able to tell you what the total assets are like and their insurable worth”.

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