NAIC moves to sensitise farmers on agric insurance STORIES: O MOBOlA
Problems with Insurance? 'wlld ,I tp"
Tow-KusIMO
tG:l thl5 cGmpllcated r>~ra:-f Ce
he National AgrIcultural Insurance Corporation (NAlC) has called on Ni&er1.an5 especlaUy the farmin& populace to Insure their rarms against future natural hazards. Executive Director. Finance and Administration, AlhaJt Bappa Lawa! Toro, who made this call I"eO!DUy in Ahuja said NAle sympathises with fannen whose farms were affected by flood Ln
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vices are much too complex. The third annual Gklbal Brand S1mpllcity Index by _ _ brandIJ>I Orm SJeaoI+GaIe SUn~ lDOI"1!than l.IXDc:onsumers 1OeDID-
Jne "",,:01"00 oompledty and slmplJclty In peopIe·s l.fves.1I found that Insurance ranked tIS iN! most &rDOfl8 25 US. industries. Gmeral Jmurance and beoIth 1nsurnnce
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He however e:nc:ourages them to m. sure thelr farms by taking advantage
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ranked at the bottom 8124 25 respecth-el,y: Among lnsurana! 00IlIpanies, GElco, well known for Its various ad spokespeople, ranked as the most slmpje in its marketin&
of the Federal Gmwnments SO percent subsidised agric iJl5uranct! for all farm·
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He lUlled that thls is aimed at boost-
-"""'" Sk!eel+Galo said the company has found
ins the aerlcu11ural teetor as part 0( the transformational agenda 0( the Federal
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• way to add
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Decrlblng the recent Good in the oountry as a wakeup call for the nation espectaUy the farmln. populace, he said farmers need not suffer unnecessary losses when they can adequately be covel'1!d byNAlC. He noted that NAlC which pays clalms promptly is • dependable part. ner in Ume of any loss and advised the farmers to secure their hard-ftl"ned l.Q. vestments by ensurin& that thelr farms
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plzzalz to a product that
as _
dulL "GEICO.
using llJlCOfl\/'et"l humor as a diffi>rentiator In tis marltetin& effi!cth-ely cut through. ance or fbherles, .na.U~ bee keeping mundane. mru1tet," says the reJ)'n and horticultural trop5 IJ"'e currently Siegel +Gale abo cited GEIOO's webs1te, beinl underwritten. .,.hk:h is easy to navipte, slmp5e messaclnc On its premium sen~t1on. the corand the hwnon:JUS Ged;o~ to Ids. M poration has. since inception. issued • result, GEiOO lDO'o'8d. Up ZI spots ftum the out almost a million poUdes with the aJUIndex to rank 21st among 125 companies YOlumeof risk amounLin& to.bout NlOO In the brand indeL bUlloo. thereby earning the corporation 1lI!n! are some thoughts on whY au thole a premIum sum 0( about N2 blllion. car insurance ads are .,00 fir us. It has also settled clalms worth severAmong the 125 brands surveyed tram 8 vaal hundred of mllUolU for farmers and riety ollndustrles, GB1CO came in 63 spots cooperative groups. Ihead 01 the ..... _ Insuronce brand. It would be m;alled that fanners Al1staie. which ranked 8Uh. Be)ow Allstate were sacked from their village and ~~ State Farm (92), Natioowide ~) and their crops washed away by 0000_ (Ill) Fannan(UO). Health insurance companies dJdnl make out so well. Aetna ranked 12lth 00 the brand lim"JJclty \nde%; CIgna ........ I22nd. Some ronmenL " consumers say their c:ommunk:ations are He noted that ....."" the han!> _ cleaJ:" _ '(bey abo cited they"'" an ease tiI"1!a9Orlably __ _ nell tnrironment 1Wld~ ~ tory ~ the company has continued till among the five Jowet-ranIdng brands to witness upwanl ~t in growth .un-e)1!d. along with UnltedHealth Group IImdamentab. 123) and Humana (1.25). "ftlr our oom~ CoMolk1ated HalISee ha¥. these insurers acore OIl customer mart lnsurance pic, I will say that Vt'e are I3tiSfaction in Insure..rom's best. lnsunuloe happy with whl>re v.'e are. havln& ach1eved St1JWlt a ~ modest growth. The key dri\w 0( companies rll pay Jt1()re If I can understand what the business ft'om the start is Its people in)OO.~ .sellmg the staff and the-.c 'Tbo6e surveyed sa:! Ihe)' 'MJUld SpeM "Part rI the progress the rompany knore 00 insuraooe if the products wen! .,. achieYed lncIude5 early host.ini 0( Its annual _ _ havlnalmested In kr to ur.lerstand.. Stegel+Gale found that rasoe. _ ... 1m"""", .....,.... peop&e would pay over tG.4 bUllon more (IX' es. Each year- we try to ~ f<X'1'1U"d the ~~Insuranc2 pnxt_ oervIoes and ex·
us.
are lnsured. The Hood which ravaged twenty states with fannJa.nds destroyed, couple with the wunitlgated cri5ls of Boko Ma· ram, ethnic kllllnp. unchecked soarln8 food prices have undoubtedly left NIi;e-
Consolidated Hallmark pays over N600m on claims in Q3 conclusion of business In 2012.. He made the dl5dosure during the 0(-
fidal presentation 0( Group Accident Insurance Cover to InSurance Correspon-
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f you have trouble understandlng your insurance. don't feel alone. For the thlrd year in a l'O'IlIt US. OORS\llDf'rs report that insurance indust:rY products and ser·
recent times
onsolidated Hallmark Insurance pk (CHI) has paid out claims worth owr 600 mllUon a5 at end u thlrd quarter In September 2012. Mr. Eddie Efekoha. CHI Manasln& Director ""'said. Accordlnc to him. the payment is more than NS12 million paJd In the fWl year 0( 2011. whkh wW be hlaher at the
Oi080i:J58.'5 1
dents in Lagos recentbt Efekoha said the company take! payment 0( clalms as priority because 0( how much It values Its clients thus ensures that It's underwriti.oB ill heruthy and professionally handled. 8esldes, he bellewos that the business 01 insurance is driven by referrals and customers' recommendation. He said, "For us Il3 a compa~ we recognise that we are in business to pay dalm!; and therefore we must operate and ensure v."e do not faU. When we do that, satisfied clients wUl recommend themselve!l and other people to U5. So It's • business that is bullt on referrals such that exlst1ne clients wU1 refer you when you have done v.-ell and "'''1! wUI continue to do that In the mist of changing envl-
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time we hold the Annual Genern1 MeetinI (AGM)- Since 'JIXT1 v.'e held the AGM in ADgust. then July aJKI thls year 3)12 v.'e held It before the first half ~ the yMr and as q
r~ don't 1nsuren make things sim-
pIet' _ Jo the report.. high level 01 tIanty lsn·l easy fir businesses to achieY8. Ilbe and IlKft compn. the ampanJ rnoYe on. 9.-'e will oontinue to imPl"C'ft 00 the ~ likely It Is to be 0Yerly oomple1 with the timecl the AGM-, be said. Us pnxlucts and rDII!!!I:Sa8'!8 Kelly CunniDgbam, an «mamlst at tbt bmal University SYSll!m InstmJte forPoli_ In San Diego.,.,.. the pubbchas
tarwer
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RISAN to hold confab on disaster management
T
he Risk Surveyors Association of Nigeria (RISAN) bas concluded plans to hold Its 3)12 National
Conference The conference which ill a yearly event under which 8W1pices professional risk surveyors. insurance proCessionals and operaton to the commerce, manufacturinJ: and energy sectors con· &regate to rub minds on cruclal Issues
bordering on disaster mllR88ement, has become necessary due to the prevaUlng risks in the country. In a statement by the President, Mr_Jacob Adeosun, the challenges of disaster management requJnt effective solutiolU to m!ti&ate the recurrent occurrence of losses on roads u well as In commerce and indWltry re:!u1Un. from industrial fIres and 81-
lied perils.
Adeosun noted that the confereooe Is focusln& on the lmpact 0( human eIeUl4':nt in dbaster management at this
deep distrust for messages that are hard to OUt.
When the message about a product is ~·_,..,_K"""'"
year. parley given the central position 15 trying to be purpoaefuUyurrJeaz;" he says.
which human bel.np play in manasin& the challenge 0( risks. The actions and Inactions of human belna5 aggravate or alleviate the occurrence and impact of ewry disaster.
ou wonder what they lIl"1! trying
to pull on
You~lOspeaklllpeop)e·S~
ionle\tis. "