By Nike Popoola

Wednesday, 15 Dec 2010

The Executive Director, Industrial Risk Protection Consultants, Mr. Jacob Adeosun, has said that government and individuals should take appropriate insurance covers that can mitigate the impact of climatic risks in the country.

Adeosun, who is also a chartered insurance practitioner, said this while speaking on, ”Global climatic change, challenges for risk management,” during a seminar organised by Risk and Insurance Managers Society of Nigeria, in Ijebu Ode, Ogun State.

He said, ”Every Individual and corporate entity including government should purchase applicable insurance policies for the insurable parts of this risk. Non purchase of insurance is not a wise option.”

He added that though, Nigeria was not exposed to the harsh climatic weather suffered by many other countries, the impact of global climatic risks could be controlled with appropriate proactive actions by individuals, corporate entities and the government.

According to a statement by RIMSON, he noted that there had been times when unexpected climatic change affected different parts of the globe.

Because people hardly expected a bad occurrence to happen to them, he said, many did not protect themselves against risks until they encountered one.

He said that the recent flood incident that happened in Ikorodu, Lagos state, and some parts of Ogun state, called for the need of government and other sectors to ensure proper risk control mechanism in the country.

According to him, this led RIMSON, to focus this year’s seminar, on awakening the consciousness of Nigerians to real threats posed by climatic change so that appropriate risk control measures can be taken to avert unfavorable consequences of such in the country.

According to the statement, the Honourable State Commissioner for Environment, Ogun State, Dr. Olukoya Adedoyin, said, the relevance of insurance could not be overstated.

He said, ”For Government, the ever increasing cost of implementing government projects and programmes, premeditating hazardous conditions, and particularly, with the disaster victims taking insurance policies against risks, appears to be the most attractive and most reasonable option, if poverty is not to take over completely.”

 

Source: Punch