Monarch endorses insurance for risk mitigation

The campaign for enhanced insurance awareness in Nigeria has received a boost with the endorsement of insurance as a pivotal risk mitigation device by Adedotun Gbadebo, the Alake of Egbaland.

Gbadebo, who made the observation while receiving a delegation of the Nigerian Council of Registered Insurance Brokers (NCRIB) lead by Ayodapo Shoderu, its president, said pervasive ignorance of the people about insurance and its benefits was responsible for the avoidable pains experienced when they suffer losses.

Gbadebo who revealed that insurance is about utilising little quantum of money to redeem large losses, urged Nigerians to reverse their past noxious beliefs about insurance, going by the ongoing reformation moves by the industry.

He expressed confidence in Shoderu whom he described as a consummate insurance practitioner, considering the NCRIB president’s vast knowledge and pedigree in the industry both in Nigeria and overseas.

Earlier, the NCRIB President had urged royal fathers in the country to utilise their vantage positions to enlighten their subjects on insurance for their enhanced well-being.

“As opinion moulders in the society, our royal fathers could assist the industry through continuous enlightenment of their subjects on the value of insurance in securing their lives and property against unforeseen circumstances,” Shoderu noted.

By: Modestus  Anaesoronye