Monday Ubani,the Chairman of the Welfare Committee of the Nigerian Bar Association has made a case against the insurance policy coverage for Lawyers saying that it is too expensive to maintain because of the fact that the number of lawyers dying were not commensurate to the policy.
In a report presented at the association’s National Executive Meeting held in Ilorin emirate,Kwara State,the committee proposed for the establishment of an Endowment Fund which will deal with Welfare Claims and needs of members .It will also act as an alternative or replacement to the existing Insurance Policy.
The committee report further proposed that the Welfare Endowment Fund should be funded through Voluntary donations and deduction of the sum of N1,000 from the Bar Practicing fees payable by every legal practitioner and remitted directly into the welfare endowment Fund.
For the Management of the fund,the committee recommended that an Endowment Committee be set up to oversee it and shall be a standing committee with a tenure that is within the tenure of the appointing regime.
The endowment scheme will cover death,Permanent Incapacitation and Accident & Life threatening Illnes/complex Surgery
