The Managing Director/Chief Executive Officer of Mutual Benefits Assurance Plc, Mr. Olufemi Asenuga, has stated that Nigeria should combine threat administration and insurance coverage extra intentionally into its sustainable improvement agenda in an effort to defend households, companies, public establishments and significant infrastructure in opposition to shocks.
Asenuga, acknowledged 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 just lately.
Speaking on the theme, “Risk Management and Insurance as Catalysts for Sustainable Development: Protecting Lives, Livelihoods and Critical Infrastructure,” Asenuga examined how insurance coverage may assist people, companies and governments stand up to monetary shocks, protect improvement features and get well 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 give attention to meals safety, well being, housing and humanity, Asenuga described insurance coverage as an integral part of nationwide improvement, relatively than a peripheral monetary service.
He stated whereas threat administration helped to establish and cut back potential losses, insurance coverage supplied monetary safety in opposition to lined occasions, enabling households, companies and public establishments to get well 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 susceptible populations, and Target 8.10, which inspires entry to insurance coverage and different monetary providers.
