The Managing Director/Chief Executive Officer of Mutual Benefits Assurance Plc, Mr. Olufemi Asenuga, has mentioned that Nigeria should combine danger administration and insurance coverage extra intentionally into its sustainable growth agenda to be able to defend households, companies, public establishments and important infrastructure in opposition to shocks.
Asenuga, said this whereas delivering a plenary paper on behalf of the Group Chairman of Mutual Benefits, Dr. Akin Ogunbiyi, on the nineteenth Annual Research Conference & Fair of the University of Lagos not too long ago.
Speaking on the theme, “Risk Management and Insurance as Catalysts for Sustainable Development: Protecting Lives, Livelihoods and Critical Infrastructure,” Asenuga examined how insurance coverage might assist people, companies and governments stand up to monetary shocks, protect growth positive factors and recuperate from sudden losses.
“Development is not what a nation builds. Development is what survives,” he declared, emphasising the significance of defending investments and livelihoods in opposition to preventable and unexpected dangers.
Aligning his arguments with the convention’s concentrate on meals safety, well being, housing and humanity, Asenuga described insurance coverage as an integral part of nationwide growth, quite than a peripheral monetary service.
He mentioned whereas danger administration helped to determine and scale back potential losses, insurance coverage offered monetary safety in opposition to coated occasions, enabling households, companies and public establishments to recuperate and keep continuity.
He famous that the United Nations Sustainable Development Goals recognised the significance of resilience and monetary safety, notably Target 1.5, which promotes the resilience of weak populations, and Target 8.10, which inspires entry to insurance coverage and different monetary providers.
