….Applaud Oyo government over response to fire victims

The Nigerian Council of Registered Insurance Brokers (NCRIB) has underscored the pivotal role of insurance in disaster management in the country. However, it bemoaned the fire disaster that ravaged Akesan Market (Oja Akesan), in Oyo town, where properties worth millions of naira were destroyed.

But the council expressed gratitude to the state’s Governor, Seyi Makinde, for his promise to bring succor to the victims of the incident, as well as provide firefighting equipment to forestall a repeat of such ugly incidents

NCRIB President, Dr. Bola Onigbogi, who spoke to The Guardian, over the weekend, decried the spate of incessant fire disasters in the country, noting that such occurrences were preventable by government than those often concerned.

According to her, risks are part of the inevitable circumstances of life, which effect could be better managed by engaging insurance as it is practiced in advance countries of the world. However, she noted that to maximise the value of insurance, the best option for existing and potential clients was to engage the services of insurance brokers.

According to her, the brokers are in the position to advise clients on best possible type and rate of insurance, as well as assist them to make their claims when a loss occurs. She called on the government to always embrace insurance for effective prudential management and to assist the citizens by shifting the burden of compensation to insurers when loses occur to them, against the government’s attitude of giving succor to the victims, which in most cases, may be inadequate.

Journal

Obasanjo tasks Nigerians on insurance adoption

Former President, Olusegun Obasanjo has called on Nigerians to factor insurance products into their personal and corporate decisions because of its key benefits to human and business survival in the country.

Obasanjo, who made the call at his residence in Abeokuta, Ogun State, when a delegation of the Nigerian Council of Registered Insurance Brokers (NCRIB), led by its President, Dr. Bola Onigbogi, presented him an Honorary Fellowship and Brand Ambassador of the Council.

Obasanjo described insurance as the nation’s army whose roles are most appreciated during the period of war or unforeseen circumstances threatening lives and property.

“It’s quite regretful that many take insurance with levity or even refuse to factor it into their lives or businesses until the unexpected happens and there is nowhere they could get succour from.”

He stressed that most of the insurance laws and policies he assented to during his tenure as president, were based on his understanding and belief in insurance as a safety valve for individuals, businesses and national economy.

Commenting on the conferment of the honorary fellowship and brand ambassador on him, he commended the insurance brokers for their roles in the value chain and promised to deploy his personality to project the brand of brokers as well as the crucial roles they perform for their clients.

Speaking earlier, the Council’s President, Mrs. Bola Onigbogi, applauded Obasanjo for signing the NCRIB Act No. 21 of 2003, during his tenure, noting that the law was a watershed in the annals of the Council and the operators both professionally and ethically.

Onigbogi averred that it was in recognition of critical support that the Governing Board approved the conferment of the coveted fellowship and brand ambassador awards of the Council on him.

She also used the opportunity to seek the former president’s support for the inclusion of insurance operators in the operations of the Nigeria Social Insurance Trust Fund (NSITF), for more effectiveness and value to the target populace.

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