NCRIB commiserates with victims of Maiduguri market fire

NCRIB President, Rotimi Edu

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Chuks Udo Okonta

The Nigerian Council of Registered Insurance Brokers (NCRIB) has identified with grieving victims of the Monday Market in Maiduguri gutted by fire.

News reports indicated that the fire which broke out in the market on Saturday raged till early hours of Sunday, destroying millions of properties.

In a commiseration message, signed by the President of the Council, Rotimi Edu, noted that the incident was quite unfortunate at this time when many small and medium scale businesses are imperilled by economic recession.

Edu opined that the unfortunate fire incident has again brought to the fore the need for insurance by all, especially business owners by way of shielding them from total loss to their property in the event of such a disastrous incident.

The Council seized the opportunity to call attention of governments at the State and Federal levels to imbibe insurance and encourage same as a risk mitigating device, as against waiting to give palliatives to victims of losses when they occurred.

Edu said “the message should bode well with governments that being proactive by encouraging insurance amongst the populace was the best way to go, as against providing palliatives, which often times were insufficient after losses have been recorded after a loss”

The Council’s President utilised the occasion to inform the public about the pivotal place of insurance brokers as professional intermediaries, who give value at the point of insurance placement to claims payment.

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