Lagos State has launched a new compulsory Building Insurance Scheme to protect homeowners and businesses against financial losses from fire, flooding, and building collapses. The initiative leverages digital verification and geospatial intelligence to enforce compliance, marking a significant shift from previous regulatory challenges. Backed by the National Insurance Commission (NAICOM) and the Nigerian Insurers Association (NIA), the scheme aims to reduce the financial burden of disasters on victims while expanding the insurance industry’s premium base. NAICOM has emphasized that the success of this model depends on insurers’ commitment to prompt claims settlement and transparency. Lagos intends for this program to serve as a national template for strengthening urban resilience and insurance penetration across Nigeria.