Insurance

NCRIB offers free N15m group personal accident cover to traffic volunteers

From left: Vice President, Nigerian Council of Registered Insurance Brokers, Mr. Tunde Oguntade; President, Dr. Bola Onigbogi; Lagos Zonal Director, Radio Nigeria, Mr. Istifanus Baba; NCRIB Deputy President, Mr. Rotimi Edu, mni; General Manager, Bond FM, Mrs. Adenike Wuraola Adegoke and Paper Moderator, Mr. Saheed Egbeyemi during the presentation of Group Personal Accident policy to Traffic Volunteers at 2020 National Insurance Brokers Conference and Exhibition held as hybrid of physical and virtual

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Chuks Udo Okonta

The Nigerian Council of Registered Insurance Brokers (NCRIB) has stressed the pivotal place of volunteerism in fostering the advancement of the society and in consideration
of the vulnerability of the traffic volunteers, has offered Group Personal Accident (GPA) cover for the 15 selected Traffic Volunteers to the tune of N1 million compensation in case of death.

The President of NCRIB, Dr. (Mrs.) Bola Onigbogi disclosed this today when conferring the brand ambassador awards on selected traffic volunteers at the 2020 National Insurance Brokers Conference and Exhibition of the Council in Lagos.

From left: President, Nigerian Council of Registered Insurance Brokers (NCRIB), Dr. Bola Onigbogi presenting Group Personal Accident (GAP) policy to one of the Traffic Volunteer, Mr. Okunade Adeolu,an ace presenter on Bond FM

Mrs. Onigbogi noted that the gesture was part of Corporate Social Responsibility (CSR) policy of the NCRIB and presented the policy document to the volunteers as the highpoint of the 2020 National Insurance Brokers Conference and Exhibition which was preceded by the Annual General Meeting of the Council, held as hybrid of both physical and virtual in compliance with government directives on COVID-19.

Mrs. Onigbogi applauded the traffic volunteers for being unsung heroes by helping to solve perennial traffic situation in metropolitan Lagos and advised Nigerians to imbibe volunteerism as a way of solving social problems in the society.

According to her, the Council has carefully considered the efforts of Traffic Volunteers and their impact in traffic management, especially in Lagos city, which is notorious for traffic congestions.

Vice President, Nigerian Council of Registered Insurance Brokers, Mr. Tunde Oguntade; President, Dr. Bola Onigbogi; Lagos Zonal Director, Radio Nigeria, Mr. Istifanus Baba; NCRIB Deputy President, Mr. Rotimi Edu, mni and Paper Moderator, Mr. Saheed Egbeyemi during the presentation of Group Personal Accident policy to Traffic Volunteers at 2020 National Insurance Brokers Conference and Exhibition held as hybrid of physical and virtual

Delivering the theme paper of the Conference, “Rebuilding Institutions post Covid-19” the Chief Executive, British Insurance Brokers Association (BIBA), Mr. Steve White noted that the effect of COVID-19 would be felt across all sectors, with retail and real estate highlighted to be severely impacted.

According to him, businesses may be impacted by lower demand and run the risk of over-stocking that could persist until production reduces or demand picks up. He added that customers are likely to delay payments to preserve cash, whilst suppliers may be desperate to be paid for shipped or ordered goods.

He said, “Institutions should assess the ability of their own affected operations to continue production and supply. Contingency plans should be made for alternative supply in the short and medium term, as and when required.

“Businesses are encouraged to respond to recent events on multiple fronts at once. Simultaneously, they must work to protect their workers’ safety and safeguard their operational viability, which is increasingly under strain from a historic supply-chain shock.”

President, Nigerian Council of Registered Insurance Brokers (NCRIB), Dr. Bola Onigbogi presenting Group Personal Accident (GAP) policy to one of the Traffic Volunteer, Mr. Okunade Adeolu,an ace presenter on Bond FM

Also speaking at the Conference, the Ooni of Ife, Oba Adeyeye Ogunwusi underscored the importance of Insurance in building institutions, stressing that insurance provides financial support and reduce uncertainties in business and human life.

Oba Ogunwusi who spoke from his palace to all delegates virtually enjoined insurance professionals to be more creative and dynamic in product development added that all sectors, including insurance industry must have learnt from advent of COVID-19.

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