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Insurance remains last hope in times of recession – Thomas

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Insurance remains last hope in times of recession – Thomas

The Director-General Nigerian Insurers Association (NIA), Sunday Thomas, has urged the public to secure their belongings even at a time that the country’s economy is in recession with insurance which remains the best tool to mitigate risks.

The NIA Director-General gave the advice in Lagos over the weekend stressing that insurance operators have products to cater for risks faced by individuals on a daily basis.

He noted that the awareness campaign was engaged to consolidate the achievements already recorded in Lagos State, which has remained the leading light in insurance among other states in the country.

“The best way to go now, is to keep what you have. You have a building; why not insure it, in case anything happens. So, that you can continue to have a house. You have a car, why not insure it, to make sure that should in case anything happens to it and you could not buy a new car, the one you have can be sustained.

“You have children in school, how do ensure that if anything happens to you, their education would not be affected. There are various policies for all of these. And that is the way to go. In times of recession, Insurance is the last hope,” he said.

Mr Sunday Thomas however, lauded Lagos State Government for its commitment towards insurance development in the state, stressing that the industry would continue to educate the public to ensure they understand the importance of insurance.

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Kayode Adelowokan

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.The Verge Communications (NEWSVERGE) is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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