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Oyo Market Fire Incidence: Embrace Insurance To Manage Disaster Not Succor, NCRIB Tells Makinde



***Commends Oyo State Governor On promises To Victims

Following the fire disaster that ravaged Akesan Market, (Oja Akesan) in Oyo town, where properties worth millions of naira were destroyed, the President, Nigerian Council of Registered Insurance Brokers (NCRIB), Dr (Mrs) Bola Onigbogi has called on Oyo state Governor, Engineer Seyi Makinde to embrace insurance as a disaster management approach instead of giving aid to victims.

The President who stated this in a statement by the council bemoaned the fire disaster and also commended the promise made by the State Governor to succor the victims of the incident, as well as the promise to provide firefighting equipment to forestall a repeat of such ugly incidents.

Onigbogi decried the spate of incessant fire disasters in the country, noting that such occurrences were preventable by government than those often concerned.

She used the forum to underscore the pivotal place of insurance in disasters management in the country. According to her, risks are part of the inevitable circumstances of life which effect could be better managed by engaging insurance as it is practiced in advance countries of the world.

However, Dr Onigbogi noted that to maximize the value of insurance, the best option for existing and potential clients was to engage the services of insurance brokers who are in the position to advise clients on best possible type and rate of insurance as well as assist them to make their claims when a loss occurs.

She called on government to always embrace insurance for effective prudential management and to assist the citizens by shifting the burden of compensation to insurers when loses occur to them as against government attitude of giving succor to the victims which in most cases may be inadequate.

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