Insurance

NCRIB applauds Makinde on Gbagi market fire, offers insurance as recipe for risks

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Chuks Udo okonta

The Nigerian Council of Registered Insurance Brokers (NCRIB) has bemoaned the fire disaster that ravaged Akesan Market, (OjaAkesan) in Oyo town, where properties worth millions of naira were destroyed.

The Council commended the promise made by the State Governor, Engineer Seyi Makinde to succor the victims of the incident, as well as the promise to provide firefighting equipment to forestall a repeat of such ugly incidents.

The NCRIB President, Dr. (Mrs) Bola Onigbogi, who stated this, decried the spate of incessant fire disasters in the country, noting that such occurrences were preventable by government than those often concerned.

She used the forum to underscore the pivotal place of insurance in disasters management in the country. 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, Dr Onigbogi noted that to maximize the value of insurance, the best option for existing and potential clients was to engage the services of insurance brokers who 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 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 as against government attitude of giving succor to the victims which in most cases may be inadequate.

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