Economic Recession: insurance remains last hope
The Director General of the Nigerian Insurance Association (NIA), Sunday Thomas has called for reliance on insurance as a veritable tool for risk mitigation giving the economic situation in the country.
Speaking to SUPERNEWS ONLINE today in Lagos, Thomas urged Nigerians to protect everything they have by insuring them.
“In times like this insurance is the last hope. Do all you can to protect all resources you have, if you want to sustain your business. If you are a manufacturer, protect you factory, protect your staff, protect all you have so that they can always be at their best producing for you otherwise if anything happens in the course of time, the cost of restoring now is higher than it use to be.
“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 in case anything happen 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 operators have products to cater for risks faced by individuals daily, adding that the campaign was held to consolidate on the achievements recorded in Lagos State.