Wed, 10 May 2017 10:14:22 +0000
BY MAILESI BANDA
TRADERS’ associations should seek insurance cover on behalf of their members to benefit from affordable insurance cover, Insurers Association of Zambia consumer and education officer Kambole Chituwo has advised.
Mr. Chituwo said requesting for insurance cover as a group had benefits because they paid less as compared to individual business insurance.
Speaking in interview with the Daily Nation, he said there were insurance products for every scale of business.
“While there is a challenge of traders that feel they cannot easily qualify for insurance products, this could be overcome by approaching insurance companies using associations to seek insurance products on behalf of members,’’ he said.
He said the members would then negotiate better terms and conditions on behalf of their members, adding that they would be able to benefit from their numbers and pay less.
He stated that insurance cover was for everyone and there were packages that everyone could access. He urged people in business to approach insurance companies that offered group insurance to give them cover.
“We wish to remind the public that insurance can help alleviate the cost of replacing or repairing losses that arise from unforeseen disasters like fire, ensuring quick economic recovery and returning to business as soon as possible,’’ he said.
‘‘There is strength in numbers, and it is for everyone’s benefit to ensure that an entire premises or trading community is adequately protected,’’ he added.
He urged businessmen to make use of different financial protection mechanisms so that they did not have to bear the cost of recovering from the loss from their own resources.
