Experts advise entrepreneurs on assets protection

Following the recent EndSARS Protests that were hijacked by hoodlums, thereby, leading to the destruction of lives and properties worth a trillion naira, there is a need for the Small and Medium-scale Enterprises (SMEs) to seek insurance protection against risks.

This was noted by insurance managers during a virtual meeting, organised by Old Mutual Nigeria to raise industry awareness.

The Head, Bancassurance and Distribution, Old Mutual Nigeria, Dumebi Okonkwo, said, it was pathetic that during the protests, many SMEs suffered heavy losses arising from vandalism and destruction of assets but that only a few of them insured their asset.

She added that most SMEs would struggle to come out of this quagmire as they may have to start from scratch. He noted that those who were fortunate to insure their businesses would have less challenge.

“Since SMEs are the drivers of the economy, they should benefit from insurance claims, but unfortunately, many of them did not insure, believing that disaster such as this would not happen. But the wise ones who insured will automatically get their claims,” she said.