LCCI collaborate with Anchor Insurance on job loss insurance policy

Lagos Chamber of Commerce and Industry (LCCI) has thrown its weight behind the Loss of Employment Income Insurance Scheme, a product designed by Anchor Insurance Company Limited to address the agonising effect of sudden loss of job.
In a speech delivered by the president of LCCI, Nike Akande, when the company paid her a courtesy visit at Commerce House, Lagos, she commended Anchor Insurance for its contribution to the development of the insurance industry in Nigeria.
“LCCI has over the last couple of years collaborated with the insurance sector with the inauguration of the Insurance Group of the LCCI to promote and advocate for the best policies and practice that would be beneficial to the insurance sector.
“The proposed launch of the Loss of Employment Insurance Scheme is a welcome development as it seeks to create awareness and protects employees from unforeseen circumstances, especially as it relates to job losses. This initiative is commendable and will go a long way to provide a wide cover for employees that are vulnerable” Akande said.
She emphasised that there were opportunities and scope for collaboration between LCCI and Anchor Insurance, which would be explored to boost growth and encourage growth in the sector.
Mayowa Adeduro, managing director, Anchor Insurance, in his response, appreciated the president and LCCI for identifying with the company’s initiative and innovativeness while promising that Anchor Insurance would not relent in developing more innovative product to address the yearning of the insuring public.
He stated that, due to cyclical nature of employment, it will happen at a point in time that employees may be faced with imminent challenges of job loss which may be as result of economic downturn, advancement in technology and government policies, whether they are hardworking or not.
Adeduro said that, the Insurance Supervisory and Regulatory body, National Insurance Commission granted approval to Anchor Insurance in January 2015 after a painstaking research and approval processes as a fresh product in Nigeria insurance industry and indeed in sub-Sahara Africa, addressing contemporary challenge of employees in the formal sector of the economy.
Adeduro said that, today, Anchor Insurance Co. Ltd takes pride in the fact that, the scheme already has beneficiaries who took a timely and wise decision to enrol on the scheme and have been savaged from the adverse effect of job loss. This for us is a fulfilment of the objective of the scheme.
He further said that the company is set to officially launch the product in the coming week so as to deepen the confidence that insurance works and to create more awareness for the product.

 

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