Oyo State Government has concluded plans to set up a Global Insurance Agency in order to provide a conducive environment for business to grow for the benefit of the citizens.
The agency which will be private sector- driven will cater for Insurance needs of both the formal and informal sectors in the State.
The Secretary to the State Government, Mr Olalekan Alli disclosed this while declaring open the 46th Annual Education Seminar of the Chartered Insurance Institute of Nigeria held at the Premier Hotel, Ibadan.
He stated that the roles of Insurance Industry such as the provision of financial protection for property,life,health and paying claims in case of loss, death or damage is very essential to the socio-economic growth and stability of any State and nation at large.
“It is instructive to note that insurance facilitates economic growth by investing premium fund, protecting individuals, industry and commerce, communities and nations from economic impact to losees,thus,removing the anxiety of losses”.
Alli therefore charged the Insurance practitioners to put measures in place that will address the menace of quack and fraudulent practitioners, who have given the industry a bad name.
In their separate remarks the Commissioner for Insurance, Alhaji Muhhamed Kari and the President Chartered Insurance Institute of Nigeria, Mr Eddie Efekoha noted that the Insurance Industry has not reached its desired goals and objectives but on the verge of convincing Nigerians at large to accept Insurance while at same time seeking for the governments continued support at the state level to further enhance the industry.
The duo admonished all the participants at the seminar to come up with useful recommendations and urged them to take parts in delivering quality service and superior values to Customers.