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Chuks Udo Okonta
I hate insurance and whenever insurance operators approach me, I don’t give them attention. This was the words of a journalist, as he expressed his disdain for insurance due to negative tales he heard about unethical insurance practitioners.
It is worrisome that a journalist who ought to be at the forefront in educating the public on risks management through insurance, is rather promoting hate for insurance.
Should he be blamed for his dislike for insurance? I feel he should not not be blamed as he is entitled to his opinion, which to an extent was informed by the ills perpetuated by some unethical insurance practitioners.
Unethical insurance practitioners have over the years caused harm and pains to policyholders who entrusted their risks to them.
Having inflicted pains on policyholders, remedial actions taken by the insurance industry regulator – National Insurance Commission (NAICOM) are stalled through legal actions, leaving the regulator and policyholders helpless, while the unethical practitioners keep enjoying.
These vices by ethical practitioners build up hate for insurance, thereby barring prospective policyholders from mitigating their risks through insurance mechanism.
How hate affects prospective policyholders
Just like the journalist who does not welcome insurance practitioners nor subscribe to insurance to mitigate his risk, many people today are loaded with risks, which they can’t offload to insurance due to inherently hate.
John Eze, a trader in Onitsha, Anambra State, suffered a huge lost due to his hate for insurance.
Eze’s business was doing well and he never thought he could suffer any mishap.
He was approached by insurance agents to take a fire insurance cover for his shop, owing to his hate for insurance, he barred the agents from coming to his shop, telling them that insurance is a fraud.
Not to long, the plaza where his shop was located was burnt and all his wares were consumed by the inferno.
While Eze was seeking help to bring back his business, insurance operators visited the plaza to issue chequed to those who insured their shops.
Eze could not hide his feelings as he approached the operators to narrate his ordeal.
He regretted his actions, pledging that he would insured his business having raised money for a come back.
While he struggled, his colleagues who insured their business used their claims to restate their businesses.
Dangers of hate
*Poor investments
Hate for insurance prevents people from accessing unique investments opportunities in insurance. This makes them invest in wrong places.
*Holding of risk
Hate for insurance makes people hold risks which can ruin their lives and properties, when mishaps occur.
*Total lost
People who hate insurance often suffer total lost as they lack means for a rebound.
*Poverty
Hate for insurance can drag a person from opulence to poverty as a result of mishap.
*Lack of professional risk counsel
Hating insurance bars people from accessing free risk counsel from professionals.
*Exposure
People who suffer lost and lack insurance are exposed to share and reproaches as the seek help from people.
Hate which is opposite of love, is inimical to human growth and development.
In spite the vices committed by few unethical insurance practitioners, you should never develop hate for insurance, which is globally acclaimed to be one of the best means to manage and mitigate risks.
Don’t hold that risk due to hate, pass it to insurance and have peace of mind.
