THE URGENT NEED FOR TRADERS TO EMBRACE INSURANCE

The compelling need for traders to insure their shops and goods has come to the fore once again after many shops at a plaza located along Kano Street, beside Onitsha Main Market, were razed down by an early morning fire last Monday, November 28, 2022.

No life was lost in the fire which started just after midnight but goods worth millions of naira perished.

It has somewhat become a common phenomenon for fire incidents to occur during festive seasons. The coming Christmas season is a period that people should be on guard against infernal fires.

The sad dimension is that the traders almost always leave their shops and goods uninsured. Without any insurance, the victims resort to appealing to the government for some measure of assistance to get back on their feet. But that is not the modern way to safeguard any commercial asset.

It is crucial that the businessmen and women, importers and exporters should imbibe the culture of insurance. Modern commercial activities can hardly ever survive without insurance. It is insurance covers that protect against all manner of risks.

The Anambra State Amalgamated Market Traders Association (ASMATA) has a pivotal role to play in enlightening their members on the importance of insurance. The associations role should not just be the collection of dues from the members. ASMATA should set up the mechanism to reach out to their members and agree on minimum contributions they would be making to have a common policy.