Anchor explains benefit of insurance to Aspanmda traders

With the opening of its new office in Satellite Town, Lagos, Anchor Insurance Limited says its committed to bringing insurance services to the doorsteps of its consumers in that area, including the members of Auto Spare Parts and Machinery Dealers Association (ASPAMDA).

The underwriting company at its maiden stakeholder’s forum with the traders explained the benefits of insurance and how it can help them in planning their future and protection of their families.

The Forum chaired by Anthony Ughagwu, the president of the association,and supported by key members of the executive committee of the Association saw how insurance could help businessmen and women improve their standard of living and business by ensuring that they plan and prepare for tomorrow through various insurance policies.

Nsimah Jeremiah, executive director, technical, Anchor Insurance said that it is sad to note that only 6 percent of Nigerians have one form of insurance or the other.  Some are either underinsured or believe in ‘heaven’s insurance’ while others still have negative impression about insurance and the possibility of fraud involved.  He further stated that if life and properties must improve in Nigeria, insurance must play a major role.

Speaking further, he said it is also sad that a lot of vehicle owners in Nigeria do not carry genuine motor insurance certificate especially the compulsory 3rd Party Insurance which is the minimum cover required by law and when insurance company repudiate their claims on the ground of genuineness of cover or inadequate provision relevant documents, they conclude that that insurance companies are fraudsters.

He assured the association that the regulatory body of insurance, NAICOM, is effectively monitoring the operations of insurance companies in order to protect the insuring public and has created a complaint bureau.

Several insurance products designed to benefit and improve standard of living were exhibited to the members of the Association at the Forum.

Ughagwu in his remark encouraged his members to pick up any of the insurance policies exhibited by Anchor Insurance to improve their lives and that of their properties while assuring them that he has done his due diligence on the company and found them worthy to do business with.