The Nigerian Council of Registered Insurance Brokers (NCRIB), Brokers, has commended Governor Ademola Ademola for patronising Osun based companies to boost the economy of the state.
Speaking, the Chairman Western Area Committee, Nigerian Council of Registered Insurance Brokers, Mr Gafaar Alamu said Governor Adeleke has fulfilled one of his electoral promises, saying the Governor tradition for “Osun money for Osun people” by patronising the insurance brokers and companies in Osun State.
Alamu stated this at the investiture of the 14th Chairman of the Western Area Committee of the body on Thursday, in Osogbo, Osun State capital.
He said that the bold step of the governor has increased internal generated revenue and created more jobs for the people of the state.
Alamu charged the state government to drive the enforcement of the other compulsory insurances to Public Building Insurance, Building Under Construction, third party motor vehicle insurance and others.
He urged the professionals, business owners as well as market men and women embraces insurance, saying that every individual or business is exposed to different risks like loss of life, loss job, injury, fire damage.
According to him, “It is very important to me to thank the Executive Governor of Osun State, His Excellency, Senator Ademola Jackson Nurudeen Adeleke for fulfilling one of his campaign promises that Osun money shall be for Osun people. He has started patronising the insurance brokers and companies in Osun State.
“His bold step has encouraged our members from other States to register with the State government. This translates to more revenue to the State government, more jobs available for our youths seeking for job, more rents to the landlords and other economic benefits to the residents of the State.
“I want to state here that Osun State government is one of the few states that comply with the compulsory group life insurance for employees as provided under the Pension Reform Act 2014.
“Every individual or business is exposed to different risks like loss of life, loss job, injury, fire damage etc. I don’t see any reason why a business owner that has his/her buildings and stocks damaged by fire will continue to rely on government financial support for succor instead of seeking for compensation under his/her fire insurance policy
“The age long story that insurance companies do not settle claims is nothing but apparent falsehood. I charge anyone here that has his/her genuine insurance claim turned down in the recent past to meet me or any members of our Council for assistance. It’s interesting to note that many insurance companies are paying claims within 72 hours after complete documentation of the claim.
“My advice is that we should consider insurance as an option to secure our lives and property. In doing so, let us contact any registered insurance brokers that understands the nitty gritty of any insurance contract.
“As none will like to go to court without engaging the services of a legal practitioner, it is not advisable to buy insurance policy without the services of a registered insurance broker. The beauty of it is that engaging an insurance broker doesn’t increase the cost of your insurance the services offered by an insurance broker is free to the insured.
However, the President Chairman of the Governing Board, Nigerian Council Board of Nigerian Council of Registered Insurance Brokers, Prince Babatunde Oguntade described insurance as a antidote to Catastrophe that will always create set backs to peopple life.
He said “Catastrophe will always create set backs, losses will create set back, be it economy, be it manpower, be it calibration of other big magnitude when you have such thing the best antidote to all of these is insurance at the Macro and micro level, such that even petty traders can get indemnify when losses occur.
“When breadwinners die, if they take life insurance, life can continue without them, children will continue to go to school, we can reduce the number of out of school children, and the number of beggars in the system.
“When businesses breakdown due to loss, we have policies insurance that can continue to put the business in place.” he added
