Why we’re supporting growth of micro-insurance, by NAICOM 

The National Insurance Commission (NAICOM) is supporting the growth of microinsurance, especially at rural areas to de-risk the micro, small and medium enterprises (MSMEs) in the event of losses.

It is also aimed at ensuring that adequate compensations are paid to victims who are properly registered with insurance companies while expanding the financial inclusion policy.

NAICOM Commissioner, Sunday Thomas, stated this while declaring open a two-day national workshop on microinsurance organised by Star Sapphire foundation in collaboration with the Commission in Abuja.

Thomas  noted: “We are supporting this workshop to ensure that people are educated  on what insurance stands for, to know what to do when there are losses in their business, to know the benefits  and their rights, to also how to make claims’’

“The effects of COVID-19 pandemic, #EndSARs protests and the ongoing recession have further brought to the fore the importance of insurance in a fragile economy like ours, there is every hope that those whose businesses were severely affected would be duly compensated provided their businesses were insured appropriately.”

Head of Micro Insurance, NAICOM, Mrs. Aisha Bashir, said: “We are using this workshop to target market women, artisans, women associations selling tomatoes and Akara. We are also using this workshop to teach women and men that are here the modalities of registration and claims.”