Insurance

Policy on rail insurance on the way – NIA

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Efekoha

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Chuks Udo Okonta

The Motor Technical Committee of the Nigerian Insurers Association (NIA) is presently working on a draft policy on rail insurance to take advantage of opportunities that would accrue from rail transportation.

The Chairman of the committee, Mrs Omolara Posi-Adedayo, disclosed this in a report presented to the association.

Chairman of the NIA, Eddie Efekoha, has urged insurers to explore all available opportunities to reposition insurance business.

According to him, “the economic space is shrinking and businesses are facing greater threats; and the insurance sector is not insulated from developments in the global economic space. It therefore behooves on us to respond quickly to the changing dynamics of the market space so that we do not go extinct in the face of the global pressures on our businesses.”

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