Why Olubadan called Insurance ‘A Necessary Evil’?

The Olubadan of Ibadanland, Oba Saliu Adetunji Aje Ogungunniso 1 describes insurance business as necessary evil, saying people dislike but cannot avoid it.
Making the remark in Ibadan, the Oyo State capital, Wednesday, while receiving in audience the executive members of the Chartered Insurance Institute of Nigeria (CIIN), Oyo State Chapter, led by its chairman, Mr Olugbenga Falade, the monarch said:  “While no one prays for evil to occur, the fact is that accidents do occur from time to time.

“Rather than wallow in abject self-pity and resign oneself to fate, life must continue. This is where insurance cover on all manners of accidents becomes pertinent.”
The Ibadan paramount ruler advised insurance practitioners to raise the bar of integrity and credibility within their profession, especially when it came to prompt settlement of customers’ claims, for more Nigerians to embrace insurance cover.
Speaking earlier, the state chairman of the Chartered Insurance Institute, Mr Falade, congratulated the monarch on his 88th birthday and prayed God to prosper the Olubadan and give him increased wisdom, knowledge and understanding to carry out his duties as the Ibadan paramount ruler.

 

Source: Daily Trust