The National Insurance Commission (NAICOM) has formally launched the Lagos State Building Insurance Scheme, a move aimed at enhancing disaster resilience and insurance penetration. NAICOM Commissioner Olusegun Omosehin emphasized that the commission will provide the necessary regulatory framework to ensure the scheme remains transparent, competitive, and accessible. The initiative aligns with the Nigerian Insurance Industry Reform Act of 2025, which mandates coverage for public buildings and construction projects to protect owners and third parties. NAICOM has committed to combating fake insurance certificates and unlicensed operators while urging industry players to prioritize the prompt settlement of claims to bolster public trust.