NIA holds micro insurance fair tomorrow


The micro insurance committee of the Nigeria Insurers Association (NIA), will on tomorrow Wednesday hold a micro insurance fair in Lagos.

NIA Director-General, Sunday Thomas who made this known at a press briefing at the weekend, said the fair will hold at the LTV premises.

According to him, the main objective of the fair is to sensitise stakeholders both on the supply side which includes the underwriters and brokers and the demand side which includes the insuring public and the general public at large.

He said the group is expecting the Iyaloja of Lagos, market women, artisans, small and medium enterprises (SMEs, among others at the fair while the Commissioner for Insurance, the National Insurance Commission, Mohammed Kari, will deliver the keynote address.

He noted that the group consider the fair important because it knows that majority of Nigerians are in the low income group.

He said with micro insurance, member companies will be able to develop products that will meet their demand.

He said the group also wants to leverage on the current structure with over 150 million population to deepen insurance penetration. “Majority of Nigerians are in the low income group, therefore, we want to develop products that will meet their demand. ‘’The fair will bring together all stakeholders. We are also expecting about two information communication partners because it has proved to be very good means of selling micro insurance products,’’ he added.


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