Dr. Emmanuel Eweta Uduaghan
Deltans are urged to make armful use of the insurance scheme policy to upgrade their skills and finance,the commissioner of finance Mr.Fola Daniel stated this at the launching of Delta state micro insurance scheme held recently at Unity hall government house Asaba by the state governor Dr.E.E.Uduaghan.
The commissioner congratulated the executive governor of Delta state, His Excellency, Dr.E.E.Uduaghan for blazing the trail in the implementation of the micro insurance initiative in the state with the donation of 6.5million naira to support the insurance scheme. He commended the commissioner of poverty alleviation,Dr.Anthonia Ashiedu for driving this project to its peak. He opined that the partnership between the state government, micro insurers and the beneficiaries is apt and appropriate means to assuage poverty towards facilitating sustainable economic development in the state.
According to the commissioner, the micro insurance is designed as an element of financial inclusion aimed at assisting the low income earners in risk management, noting that it is an insurance accessed by the low income population, provided by licenced institutions run in accordance with the generally accepted insurance principles and funded by premium.
In addition, Mr.Fola Daniel mentioned that it is a structure aimed at making adult Deltans to embrace insurance as a mechanism for protecting valuable assets and ensure future stability and it has been specifically designed as a market development intervention aligned with local context peculiarities for the protection of low-income earners against specific perils in exchange for regular little premium payments proportionate to the livelihood and cost of the risk involved.
He stressed that the National Insurance commission has adopted zero tolerance to none settlement or delay payments of genuine claims, and they have put in place compliant resolution mechanism and they shall not hesitate to cancel the licence of any operator found wanting and possibility of criminal prosecution for economic sabotage.
