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Chuks Udo Okonta
The President, Chartered Insurance Institute of Nigeria (CIIN), Eddie Efekoha, has implored the government to lend more supports to the insurance industry to enable it contribute more to the nation’s Gross Domestic Product (GDP).
Efekoha made the call today at the CIIN 2019 Fitness and Awareness Walk in Lagos. He posited that insurers are working assiduously to contribute more to the nation, adding that their efforts will yield more results when the government show more supports especially in the area of enforcing insurance laws.
“If you look at all the sectors of the economy that have experienced any form of growth, you will see government support really present. We call on the government to support insurance for there are a lot of activities and incidence that had happened, which ought to be taken care of by insurance. We have seen a lot of collapsed buildings, fire inferno, flood and so many other disasters. We want the government to enforce insurance laws.
“As people pay for tenement rates there is nothing wrong in insisting that they should show evidence of fire insurance, after all, that is what has promoted pension and other businesses in the financial industry.
“The message to government is that the insurance industry needs support to grow. Not just to grow, but for us to also support the economy. Insurers want to contribute to the Gross Domestic Product (GDP) in a massive manner just like other climes. But since we are not supported sufficiently, the industry has not been able to contribute meaningfully,” he said.
To the public, he urged them to stay above stress and anxiety by passing their risks to insurers, stressing that insurance remains the best tool to protect lives and properties.
“For the public, for you to live in freedom, you require insurance. Insurance gives you freedom to aspire. It gives the freedom to face the future. This is because you need your assets to be protected, therefore, with insurance you are assured that your assets which you have laboured to acquire will indeed be protected.
“Insurance will help to free you from all the anxiety that this world throws at you. This is because as you go, you could be injured. If you are not injured personally, you could injure other people and those moments will come with so much of stress and anxiety, therefore, it only insurance that can help you to overcome. Indeed, that was why we christened this walk, Walk to Freedom, Walk to live in Freedom,” he posited.
Efekoha maintained that the Fitness and Awareness Walk provide an opportunity for insurance operators to keep fit and as well educated the public on the industry’s array of products.
“We give God all the glory for a day like this, often times you plan, but except God gives you the grace to see through your plans it will never be a reality.
“As an industry, we have set aside today for annual fitness walk. The exercise helps us to keep fit as members of the industry, it helps us to promote awareness of our industry and products.
“This year’s edition of the fitness walk coincides with the 60th anniversary of the Institute. The exercise will help us educate the public that the Institute has come of age. The Institute started 60 years ago, today we are still waxing strong,” he stated.
The CIIN boss said the Institute also encourage local chapters spread across the nation to engage in similar activities, stressing that the chapters have the freedom to engage in whatever activity that will help to promote awareness. “We do not decree to them what to do, but they are encouraged and supported financially to undertake activities that will create awareness,” he added.
The Director-General, Nigerian Insurers Association (NIA), Mrs Yetunde Ilori, appreciated insurance companies for gracing the event and encouraged them to continue to support all efforts put in place to take the industry to lofty heights.
The exercise which commenced at the premises of Sterling Assurance Limited along Ikorodu Road terminated at NEM Insurance Plc. During the exercise, participants engaged in activities such as dance competition, games and more.