By Rosemary Onuoha

THE Nigerian Council of Registered Insurance Brokers has commenced discussions with the leadership of Lagos Chamber of Commerce and Industry (LCCI) and Nigerian-German Business Association (NGBA) on the possibilities of leveraging on the membership of both institutions to further deepen insurance penetration in Nigeria.

The proposed partnership will encourage members of the two trade bodies to have insurance cover especially for their businesses against any peril, and other forms of unforeseen events capable of threatening further existence of their trade.

Executive Secretary of the Nigerian Council of Registered Insurance Brokers, Mr. Fatai Adegbenro who led the NCRIB delegations to LCCI office in Lagos at the weekend said that the Council is poised to assist Chamber’s members to remain in business through risk management.

Bearing in mind the challenging business environment where members of the Chamber operate, Adegbenro noted that insurance remains the best instrument to mitigate any loss to business. He stressed the need to patronize only registered insurance brokers under the aegis of NCRIB.

In a related development, Adegbenro, who also led the Council’s delegation on a courtesy visit to Nigerian-German Business Association, highlighted the benefits of engaging insurance brokers as a go between for insurance transaction.

Director General, LCCI, Mr. Muda Yusuf who received the NCRIB delegation in his office urged the insurance industry to upscale rate of awareness campaign especially, among the low level income earners. He said, “The rate of awareness is still very low, and the two organizations need to collaborate to deal with it”.