The Management of The National Insurance Corporation of Liberia (NICOL) and the leadership of the House of Representatives have signed a Memorandum of Understanding (MOU); in keeping with law, for the provision of group life and medical insurance coverage for the staffers of the Central Administration of the House of Representatives.
The official signing ceremony took place on Monday at the Headquarters of The National Insurance Corporation of Liberia (NICOL) in Monrovia. Representing the National Insurance Corporation of Liberia was its Managing Director, Sam Mannah, and representing the leadership of the House of Representatives were Nimba County District #9 Representative Johnson Gwaikolo, Chairman, Rules, Order and Administration Committee, and Nimba County District #3 Representative Joseph N. Somwarbi, Chairman, Committee on Health, House of Representatives.
The signing ceremony between the two institutions is not only in keeping with law, but in fulfillment of the promise made by the leadership of the House of Representatives headed by Speaker, Dr. Bhofal Chambers to the staffers of the House of Representatives Central Administration.
Speaking on behalf of the National Insurance Corporation of Liberia, Sam Mannah said the resuscitation of the National Insurance Corporation of Liberia (NICOL) by President George M.Weah is a true representation of President Weah's commitment to lift Liberians out of poverty to economic prosperity.
He further said that when NICOL is fully revitalized, it will contribute immensely toward economic growth and national development.
The NICOL Managing Director further expressed gratitude to the leadership of the House of Representatives for taking the bold step in keeping with the act establishing the corporation, which calls for the corporation to affect all insurances of the government of Liberia, public corporations, and any business in which the government is 50 percent shareholder or more.
Speaking on behalf of the leadership of the House of Representatives, lawmaker Johnson Gwaikolo, Chairman on Rules, Order and Administration, praised NICOL's Managing Director Sam Mannah and his team for making use of its meager resources to effectively run the institution to an appreciable status that proves that NICOL is ready to be restored to its pre-war status and emphatically called on all government's institutions to follow the lead of the House of Representatives by placing all of their insurances with the National Insurance Corporation of Liberia in keeping with law.
"For NICOL to keep its doors open with little resources, we believe this is commendable that you have embarked on rehabilitating, and reengineering the activities of NICOL with very limited resources since this managing group took over with a very little support. We think it is laudable, and the House has recognized that and thought it wise to do everything possible to lend it support to the success of this corporation. So we thank you, and congratulations! We have gathered here today to sign this insurance document as a consequence of the desire and the commitment made to our staffers. You know that at the onset of the 54 legislature, we thought that it's important for all of us in the House to be insured and brought under some umbrella that would provide some coverage and protection in time of illness or even death. In that effort, we thought NICOL could provide that opportunity for us, why? Because NICOL is one of us, NICOL is our own, so it only make sense for us to wrap our arms around our own and lift it up, empower it for it to cater to us in the way and manner we wish we like to do. So that's why we have come here to NICOL". Rep. Gwaikolo noted.
Also, Joseph N. Somwarbi, Chairman on the House of Representatives Committee re-echoed the sentiments expressed by his colleague, for the need for all government institutions to insure with the National Insurance Corporation of Liberia in keeping with law.
"NICOL is our own and we must all support our own"Rep. Somwarbi.
The MOU which has been signed between NICOL and the leadership of the House of Representatives will come into full effect on July 1, 2022 with an annual reviewable clause.