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The National Insurance Commission and the Lagos State Governor, Mr Babajide Sanwo-Olu, have urged micro, small and medium enterprises in the state to embrace insurance in order to protect themselves against losses.
According to him, the concern is that the progress made in the sector can be aborted if there are no support in place. He said, “The range of impact include job losses, debt overhang, and a relapse of households into extreme poverty. According to Thomas, microinsurance and Takaful are two insurance offerings carefully designed for affordability and inclusiveness to bring insurance within the reach of the MSMEs.
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