EXPERTS in the insurance sector have identified inability of industries and businesses in the southeast to embrace insurance policies as the missing link in the revival and sustainability of the economy of the zone, stressing that most industries have collapsed as a result of lack of insurance.
They stated that the economy of the South east zone has remained at the lowest level following the near lack of interest by governments and stakeholders to embrace insurance policies, which could ultimately reduce the burden of eventual collapse and other risks associated with businesses.
Chairman, Chattered Insurance Institute of Nigeria, Mr. Emmanuel Onuh, who dropped the hint while flagging off this year’s fitness walk, therefore, encouraged business and organizations in the zone to embrace insurance policies, stressing that the much talked about revitalization of the southeast economy would remain a mirage should its proponents continue to pay deaf ears to insurance.
Onuh, who is the chapter chairman for Enugu, said the introduction of the Compulsory National Insurance Products and the recapitalisation in the insurance sector have really grown the sector.
, stressing that it has changed the way and manner of doing things to the extent that all insurance companies in the country have now become viable and ready to assist in the growth and development of industries.
He said, “Some of the insurance companies even go beyond what the policy is all about just to ensure that we take care of our clients.
Payment of claims is no longer a problem, time has changed and people who understand the value of insurance are using it wisely to develop their businesses.
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Insurance, Missing Link In Southeast Economic Development