L-R: Immediate past Chairman IICC, Sir (Dr.) Muftau Oyegunle, Rector, CIFM, Dr. (Mrs.) Yeside Oyetayo, President, ILAN, Mr. Diipo Olanrewaju, Secretary, IICC, Mrs. Abimbola Tiamiyu, Chairman, IICC Mr. Edwin Igbiti, Honourable Commissioner of Finance, Edo State, Mr. Joseph Eboigbe representing the Governor of Edo State, His Excellency, Mr. Godwin Obaseki, Vice President NCRIB, Mrs. Ekeoma Ezeibe, Past President CIIN, Mr. Sunny Adeda and Mr. Stephen Ovonlen at the event.
BY NKECHI NAECHE-ESEZOBOR--The Insurance Industry Consultative Council (IICC), at the weekend called on Nigerians to embrace insurance for adequate compensation in time of losses.
The IICC also sympathized with victims of recent flood disaster that ravaged the country and assured them that insurance companies will play their expected roles in ameliorating the effect of the losses and damages done promptly.
Speaking at the 2022 Training on Compulsory Insurance, held in Benin City, Edo State, Chairman of IICC, Edwin Igbiti, noted most firms are currently warming up to process claims from floods that affected some states.
“This again, avails us the opportunity to resonate the benefits of insurance to Nigerians. It is for times like these that we embrace insurance so as to have adequate compensation of losses incurred,”.
Speaking on the training he said the training was organised; to educate insurance practitioners on the mandatory insurance policies, the benefits therein so that you can embrace them.
He said “insurance is a global entity and it values and benefits are numerous to the existence of mankind. Through its benefits, it offers income, life and property protection to the insured and their needs, as well as income accumulation that can be used at retirement to help preserve the desired lifestyle of anyone.
While noting that “Insurance stimulates business activities to operate in a cost-effective manner, by managing risks associated with business operations. The insurance sector safeguards the assets of its policyholders by transferring risks from an individual or business to an insurance company.
“A major risk that is bedeviling the country among others is the flooding menace. The current flooding has caused major havocs and death of lives.”
He added that experts on insurance have been carefully selected to enlighten participates on insurance and their discussion cuts across sub-themes.
“I am confident that our erudite speakers will thoroughly enlighten us on these topics; I implore us to listen attentively as they lecture us.”
