NAICOM Boss Wants Micro-Insurance At Grassroots

The Chief Executive Officer of National Insurance Commission (NAICOM) Mr. Fola Daniel has said that micro-insurance would protect low income earners in the country.
The NAICOM boss said this during the International Micro Insurance Conference, organised by the commission in partnership with other agencies in Abuja.
Daniel in an interview with newsmen stressed the need for policy makers, insurance practitioners and micro finance operators to take micro insurance to the grassroots.
He noted that micro insurance would grant grassroots access to insurance policies with low premium and quick compensations in case of claim.
The policy, according to him, would cover life, health, accident, agriculture and property.
He said the cost would be reduced through collaboration with other sectors like micro-finance banks, cooperative societies and the telecom sector.
The Chief Executive added that micro insurance was very profitable as the sell of millions of premiums would translate into millions of profit with low premium margin.
It would be recalled that farmers small and low income earners agitated for micro insurance policy as the existing policies does not consider the grassroots with low income.