IICC Urges Government To Make Health Insurance Compulsory, Subsidize Premium
L-R: Executive Director, Media Career Network, Mr. Lekan Otufodorin; Managing Director, Afriglobal Insurance Brokers, Mr. Carmir Azubuike both Facilitators; Director-General, Chartered Insurance Institute of Nigeria (CIIN), Mrs. Abimbola Tiamiyu; Chairman, Insurance Industry Consultative Council (IICC) and President/Chairman, Governing Council, (CIIN), Sir Muftau Oyegunle; Chairman Governing Board of the College of Insurance and Financial Management (CIFM) and Vice President, CIIN, Mr. Edwin Igbiti; Head, Corporate Communications and Human Resources, Nigerian Insurers Association (NIA), Mr. Davis Iyasere; Chairman, National Association of Insurance and Pension Correspondents (NAIPCO) and Publisher, Inspen Online, Mr. Chuks Udo Okonta and the Executive Secretary/Chief Executive Officer, Nigerian Council of Registered Insurance Brokers (NCRIB) at the 2021 IICC Media Retreat at CIFM, Asese, Ogun State on Saturday, December 11, 2021.
The Chairman, Insurance Industry Consultative Council (IICC) and President/ Chairman Governing Council, Chartered Insurance Institute of Nigeria (CIIN), Sir Muftau Oyegunle, has called on the government to make health insurance compulsory by subsidizing the premium.
He also called on the government to prioritize insurance and built it into most of the support they are offering in order to reduce poverty in the country.
Sir Oyegunle made the call while addressing Insurance Correspondents at the 2021 IICC Media Retreat held at the College of Insurance and Financial Management (CIFM), Asese, Ogun State at the weekend.
According to him, “Government can make health Insurance compulsory by subsidizing the premium. This has been done successfully in other countries. It may interest you to know that common malaria kills more people in Nigeria than COVID.
“The Covid 19 and consequent downturn of the economy has increased the level of poverty in our country and the message to Governments at various levels is that for sustainability, insurance must be built into most of the support governments are offering amongst others.”
Oyegunle who frowned seriously at the incidences of buildings collapse in various parts of the country, especially the most recent one at Gerald Road, Ikoyi, said the incidence exposed the level of decadence and the level of culture settlement in our society.
“The recent Collapse of 21 storeys 360 degrees apartment at Gerald Road, Ikoyi on November 1, 2021 where 45 deaths so far have been recorded with many wounded without any Insurance Cover exposed the level of decadence in our society. It simply revealed the level of culture of settlement in our country,” he said.
While soliciting the support of the media for the growth of the industry, he highlighted some of the rationales behind the IICC annual Media Retreat for Insurance Correspondents.
He said “This forum also serves the purpose of further unifying all arms of the Insurance Industry who have come together under one umbrella, the IICC, in order to ensure unity and single-mindedness in promoting the insurance industry agenda.
“I would like to refresh your memories by stating that the IICC was formed with the following objectives which are aimed at raising the profile of the industry as well as increasing its relevance to the Nation’s economic growth. The objectives include: acting as an industry voice for national matters; acting as a platform for intra industry conflict resolution; promoting the Industry’s image and growth agenda and taking up and assuming any other role that may serve the best interest of the insurance industry,” Sir Oyegunle explained.
