AE-FUNAI Signs Dual Insurance Deals to Protect Students and University Assets

Alex Ekwueme Federal University, Ndufu-Alike, Ebonyi State, AE-FUNAI, has signed two Memoranda of Understanding with Laudable Insurance Brokers Limited to strengthen the welfare of students and safeguard the institution’s infrastructure.

The agreements cover a Students’ Personal Accident Insurance Scheme and a Combined Risk Insurance Policy for the University’s buildings and assets. 

The signing ceremony took place at the Vice-Chancellor’s conference room.

Under the Students’ Personal Accident Insurance Scheme, the University will provide financial compensation to students and their families in the event of accidents resulting in injury, permanent disability, or death, including burial expenses. 

The Combined Risk Insurance Policy is designed to protect the institution’s physical assets against losses arising from fire, windstorms, and other unforeseen disasters.

Speaking at the event, the Vice-Chancellor, Professor Daniel Nwachukwu, said the initiative demonstrates the University’s commitment to student safety and compliance with the Federal Government’s directive on insuring strategic public assets. 

He noted that the decision was prompted by a series of fatal road accidents involving students around the University’s first gate.

"Just recently, many of our students were involved in accidents. Some were killed while others were seriously injured. A few weeks ago, two or three students lost their lives. If this insurance arrangement had already been in place, their families would have started receiving compensation," Professor Nwachukwu said.

The Vice-Chancellor added that while insurance cannot replace a lost life, it provides critical support for bereaved families and helps cushion the financial burden of unexpected events.

"Insurance is about preparing for uncertainties and ensuring that families are not left without assistance when unfortunate incidents occur," he stated.

Professor Nwachukwu further disclosed that the Combined Risk Insurance Policy would cover damage to campus buildings from fire and natural disasters, including windstorms that have destroyed rooftops on several occasions.

He said AE-FUNAI selected Laudable Insurance Brokers Limited after evaluating several providers, citing the company’s track record of professionalism and prompt claims settlement.

In his remarks, the Managing Director of Laudable Insurance Brokers Limited, Sam Enyili Ude, thanked the University Management for the confidence reposed in the company. He recalled presenting the institution’s insurance risk profile on May 8, 2026, and described the MoU signing as the culmination of months of engagement.

He assured the University of the company’s readiness to deliver quality services and honour all legitimate claims under the agreements.

The signing of the two MoUs marks the commencement of a comprehensive insurance programme expected to enhance student welfare, strengthen institutional resilience, and provide greater financial security for AE-FUNAI.