Published On: Wed, Sep 14th, 2016

Economic Recession: insurance remains a veritable tool- NIA

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Following economic recession in the country, the Director General of the Nigerian Insurance Association (NIA), Sunday Thomas has described insurance as a veritable tool in cushioning its effect.

Thomas noted that it’s essential that one insured life and property during this period stressing that one needs to insure home, business, car, children among other things.

Speaking at the 2000 Man-Match Awareness Campaign organised by the Association of Registered Insurance Agents of Nigeria (ARIAN) in Lagos, opined, “The best way to go now, is to keep what you have. You have a building why not insure it, in case anything happens, so that you can continue to have a house? You have a car, why not insure it to make sure that in case anything happen to it and you could not buy a new car, the one you have can be sustained? You have children in school, how do ensure that if anything happens to you, their education would not be affected? There are various policies for all of these. And that is the way to go. In times of recession, Insurance is the last hope.”

He said operators have products to cater for risks faced by individuals daily, adding that the campaign was held to consolidate on the achievements recorded in Lagos State.

He described Lagos as the most insurance-compliant state in the country, adding that it is supporting insurance development.

Thomas added that his colleagues would continue to educate the public on the importance of insurance.

ARIAN President, Olamerun Gbadebo, said the event was organised to enable the public cultivate insurance culture and expose them to the dangers of buying fake insurance.


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