Brokers storm markets for insurance education

Members with Iyaloja, Sabo Market

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Chuks Udo Okonta

The Nigerian Council of Registered Insurance Brokers (NCRIB) has adopted persuasion strategies and visitations to major markets to create more awareness for insurance products among artisans, commercial transporters and market men and women.

In a bid to reduce the devastative effect of fire incidents in major markets, especially in Lagos, the Council, in collaboration with some major Underwriters embarked on insurance awareness walk and visitations to four major markets in Lagos, namely, Sabo market, Tejuosho market, Oyingbo market and Iddo market.

Speaking at the event, the President of the Council, Babatunde Oguntade lamented the poor attitude of market owners to insurance in spite incessant fire incidents that often claim goods and properties that worth several millions of Naira.

Oguntade noted that the Council had made on-spot visitations to some of the markets where fire incidents had been recorded with the aim to commiserate with the victims as well as to educate others on the need to embrace insurance, especially against fire and burglaries.

According to him, many of the market fire victims would only realize their mistakes of not embracing insurance as at when due after they must suffered devastate loss as a result of fire and bulglary incidents.

“In a bid to further educate them and bring the products closer to them, the Council evolved with the market visitation strategy and awareness campaign. We visited the head of each market and explained the purpose of our campaign, we also use the opportunity to talk to the commercial transporters of the need to embrace insurance”

“It is our desire to see many more Nigerians embracing insurance to cushion the effect of any devastative incident, because, no nation can successfully build wealth among its citizens without proper risk mitigation mechanism in place.

“As a Council, we are not impressed by the poor acceptance of insurance products in Nigeria, we have resolved to collaborate with other arms of the industry to embark on programs that would capture the teeming population of Nigerian artisans and road transport workers.

“This has become imperative, taking into consideration the fact that most Nigerians still have erroneous belief that insurance services and products were for the elite, we have resolved to take the awareness campaign to the six geopolitical zones of the nation, through our Area Committees,” Oguntade said.

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