Home Insurance Digest Oyo to set up global micro insurance agency

Oyo to set up global micro insurance agency

Oyo State Government has concluded plan to set up a Global Insurance Agency to create conducive environment for business to grow for the benefit and satisfaction of the people.

The agency will be private sector-driven and cater for insurance needs of both the formal and informal sectors in the State.

The Secretary to the State Government, Mr. Olalekan Alli, disclosed this while declaring open the 46th Annual Education Seminar of the Chartered Insurance Institute of Nigeria held at the Premier Hotel, Ibadan.

He stated that the roles of Insurance Industry such as the provision of financial protection for property, life, health and paying claims in case of loss, death or damage was very essential to the socio-economic growth and stability of any State and nation at large.

“It is instructive to note that insurance facilitates economic growth by investing premium fund, protecting individuals, industry and commerce, communities and nations from economic impact to losses, thus, removing the anxiety of losses”.

Alli therefore charged the Insurance practitioners to put measures in place that would address the menace of quack and fraudulent practitioners, who have given the industry a bad name.

In their separate remarks, the Commissioner for Insurance, Alhaji Muhammed Akari and the President, Chartered Insurance Institute of Nigeria, Mr.  Ekere Edet, noted that the Insurance Industry has not reached its desired goals but efforts were still on to convince Nigerians at large to accept Insurance while at same time seeking for the continued support of the government.

The duo urged all the participants at the seminar to come up with useful recommendations and urged them to take parts in delivering quality service and superior values to Customers.

For a better society.

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