A Review of the Nigerian Energy Industry

LASACO affirms commitment to oil and gas insurance

06 June 2012, Sweetcrude, LAGOS – LASACO Assurance has affirmed its commitment to oil and gas industry business in Nigeria with adherence to ethical standards and professionalism.

The Executive Director of LASACO Assurance, Mr. Babajide Wright said that the company as a major player in the oil and gas insurance business has continuously reinvented the rules to leverage on its potentials. Wright who was speaking on the company’s niche in oil and gas insurance said it is a terrain LASACO prides itself as a formidable player.

One major area LASACO does this is through prompt claims settlement. According to him, LASACO pays claims promptly it is a policy the management pay attention to most especially on oil and gas business. International oil companies pay premium as at when due, when claims materialise we should do so too.

Mr. Wright said the depth of the company’s professionalism in handing business most especially in the oil and gas sector has made the firm sand out from it pears, “LASACO’s involvement extends beyond growth of the company, it also encompasses ways and means of developing the market. It contains technical capacities to develop the industry. To this end, LASACO’s has been arrowheads for capacity building and professional enrichment platforms.

Speaking on how the firm intends to maintain its niche in the industry, Mr Wright said LASACO organises trainings and seminars both locally and internationally for middle management and top management staff as well as foreign attachment programmes for staff with international affiliates to get more knowledge of how the business is practised internationally.

The firm also encourages in-house research into the portfolio of oil and gas business, he said.

In this article

Join the Conversation