My chitchat with a friend about the most recent happenings in the country focusing mostly on the looting and damages of lives and properties led us to discuss insurance. This leads him to say “Insurance firms will cough out so much this period!!!”. My question is, would they? How many people pay their premiums? How many demands for claim settlement? Do Nigerians believe in insurance? So many questions with little to no answers that leave me wondering, what can be done about this? Do we leave insurance companies to keep cashing out as always cause of our nonchalant attitude?

Let’s take a look at third-party motor insurance for example. How many motorists ply the road on a daily? How many of them have insurance to cover damages in case of an accident? The thing is, third-part motor insurance has been made compulsory by the government, and by this, many have been compelled to buy third-party motor insurance only to avoid disturbances from the authorities on the high ways. Many do not necessarily bother with the routine vehicle inspection process that should follow every insurance purchase or renewal and all these matters. You can’t be trying to make a genuine claim for insurance after an accident if you have followed through with every process. The cheat now is, much just pays for the vehicle inspection form, fill it and submit it without actually asking for their money’s worth of service. I don’t understand that process at all. If you think it through as well, you’ll be marveled at how much we let slide and yet complain of poor services from insurance companies.

The good news is, there’s always a solution to every problem made known. Do you want to let insurance companies keep “cashing out” on you as you have always assumed? Or do you want accountability from insurance companies when you demand genuine claims settlement? If your choice is the latter and you are not sure how to go about all of it, please do well to subscribe to any of the RIFAN Membership options and consider the matter settled. Read up about RIFAN and the services we offer and check out the perks of being our member.

It’s the season to be jolly and we do not want any hassles to dampen your celebrations. Stay safe, stay informed, and do enjoy the holidays ahead.