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Universal Insurance secures NAICOM’s nod to underwrite agaric insurance - The Revealer
Insurance

Universal Insurance secures NAICOM’s nod to underwrite agaric insurance

Universal Insurance Plc has secured the approval of the National Insurance Commission (NAICOM) to underwrite agric insurance.

The ‘no objection’ nod will enable Universal Insurance support farmers and service providers in the agricultural value chain for greater sustainability and economic growth.

Among the products approved are: Fishery Agricultural Insurance Plan and Poultry Agricultural insurance plan.

In a statement made available to journalists, the Management of Universal Insurance stated that the agribusiness sector in Nigeria needs insurance to remain sustainable and achieve long term growth expectation.

The statement further maintained that stakeholders in the agricultural value chain must embrace insurance if they want to reduce retained risk by transferring the burden to insurers for effective risk management.

With this approval, Universal Insurance Plc is now well positioned to broaden its product offerings to consumers, which is in line with the federal government’s objective to deepen insurance penetration in Nigeria.

The Company by this development, is strategically accelerating its business objective of building a dominant company in the Nigerian insurance industry.
Universal Insurance Poultry policy covers death of the poultry animals resulting from accident or disease while the Fishery policy covers loss of fish caused by death and cost of reconstruction of fish pond in the event of collapse.

Edet Udoh

We are The Revealer, a general online news platform based in Nigeria. Our focus amongst others is to provide credible, factual, well researched and balanced news and articles for our teeming readers in business, governments, politics, engineering, science, religion, technology etc. Edet Udoh is the Managing Editor. He is an experienced media person. He has worked extensively with the Champion Newspapers, The Authority Newspapers and the Blueprint Newspaper before starting Revealer Online News platform in 2018. He can be reached with this email address: edetudoh2003@gmail.com or via these phone numbers 08061246427 and 08170080488

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