AE-FUNAI Signs Insurance Agreements to Protect Students and University Assets

Alex Ekwueme Federal University Ndufu-Alike (AE-FUNAI), Ebonyi State, has signed two Memoranda of Understanding (MoUs) with Laudable Insurance Brokers Limited to strengthen student welfare and protect the institution's infrastructure through comprehensive insurance coverage.

The agreements, signed at the Vice-Chancellor's Conference Room, cover a Students' Personal Accident Insurance Scheme and a Combined Risk Insurance Policy.

The Students' Personal Accident Insurance Scheme is designed to provide financial compensation to students and their families in cases of accidents resulting in injuries, permanent disability, or death, including coverage for burial expenses. The Combined Risk Insurance Policy will protect the university's buildings and other assets against losses caused by fire, windstorms, and other unforeseen disasters.

Speaking at the signing ceremony, the Vice-Chancellor, Prof. Daniel Nwachukwu, said the initiative demonstrates the university's commitment to prioritising the safety and welfare of its students while complying with the Federal Government's directive on the insurance of strategic public assets.

He explained that the decision became necessary following a series of fatal road accidents involving students, particularly around the university's first gate.

According to the Vice-Chancellor, several students have lost their lives or sustained serious injuries in recent accidents, noting that if the insurance scheme had already been operational, affected families would have been eligible to receive financial compensation.

While expressing hope that such incidents would not recur, Prof. Nwachukwu described insurance as an essential risk management tool that provides financial support to families during difficult times.

He also disclosed that the Federal Government had directed public institutions to insure their facilities, adding that AE-FUNAI's decision aligns with that policy and would strengthen the university's ability to recover from unexpected losses.

The Vice-Chancellor noted that the Combined Risk Insurance Policy would provide coverage for university buildings and other physical assets against damage caused by fire, windstorms, and other natural disasters, recalling that previous windstorms had damaged rooftops across the campus.

Prof. Nwachukwu said Laudable Insurance Brokers Limited was selected after a thorough assessment of several insurance providers, citing the company's professionalism, integrity, and record of prompt claims settlement.

He acknowledged that many Nigerians remain sceptical about insurance due to the failure of some companies to honour legitimate claims but expressed confidence that Laudable Insurance Brokers Limited would fulfil its obligations under the agreement.

In his remarks, the Managing Director of Laudable Insurance Brokers Limited, Mr. Sam Enyili Ude, thanked the university management for its confidence in the company.

He recalled presenting the university's insurance risk profile on May 8, 2026, and described the signing of the two agreements as the culmination of months of productive engagement.

Mr. Ude assured the university of the company's commitment to providing quality insurance services and honouring all legitimate obligations arising from the agreements.

The ceremony concluded with the formal signing of the two Memoranda of Understanding, marking the commencement of a comprehensive insurance programme aimed at improving student welfare, strengthening institutional resilience, and enhancing the university's financial preparedness against unforeseen risks.