NCRIB calls for adequate insurance by people, government

The Nigerian Council of Registered Insurance Brokers has commiserated with the Government and people of Ogun State for the loss of lives and property due to recent flooding in Abeokuta, the State capital.

Shola Tinubu, president of the Council lamented the monumental loss of lives and property occasioned by the flooding in Abeokuta and commiserated with the Governor Ibikunle Amosun and the people affected by the natural disaster.

According to Tinubu, the disaster calls for a rethinking by the government and the people about risk management and disaster prevention before they occur.

Whilst calling on governments to embrace insurance for its citizens as a way of mitigating their material losses when they occur, the President admonished the citizens to individually insure against fire and other perils that covers flooding as government may not be able to adequately compensate them when a loss occurs to their lives and property.

The NCRIB President appealed to governments to encourage their Ministries, Departments, and Agencies (MDAs) to have adequate insurance in place as a way of providing against risks and by so doing free government of compensatory expenditure usually paid to citizens who lose their lives and property due to natural disasters like flooding.

Tinubu noted that the NCRIB and insurance brokers will continue to partner with governments and all corporate bodies towards preventing risks and giving insurance advisory services to individuals and institutions in order to aid the growth of the nation’s economy.