Zambians urged to insure their properties

A senior Civil servant in Central Province says government is committed to improving lives of average Zambian citizens.

Central Province Deputy Permanent Secretary, Felix Mang’wato, says this is why the government has taken financial inclusion in its programs as a major concern.

Mr Mang’wato said government wants Zambians to understand and access financial services such as banking, securities or insurance.

He was speaking this morning when he launched the 2018 Insurance Week at Kabwe Mall.

Mr. Mang’wato assured the participants, who included several insurance firms and pupils drawn from secondary schools in Kabwe, that government is committed to implementing the National Financial Inclusion Strategy 2017 to 2022.

He said it was for this reason that government wants to see the insurance industry reach out and give the general public a better understanding of the financial protection they offer.

Mr. Mang’wato regretted that only three per cent of the Zambian population are insured, adding that when misfortune strikes majority of businesses are unable to recover.

The DPS added that another sign of government’s commitment to growing the insurance sector is the fact that Zambia will host the 14th International Micro insurance Conference in November this year which will provide a platform to develop a local capacity in terms of inclusive insurance.

He further said Zambians need the insurance industry to provide practical solutions to risk management challenges that small businesses are facing so that they can enjoy the financial protection that come from insurance.

Mr Mang’wato challenged insurance providers to meet people from all walks of life and explain insurance in simple terms so that people can understand in order to dispel the negative perception that some members of the public may have about insurance.

Speaking earlier, Pensions Insurance Authority representative, Kutemba Chinyemba, called on Kabwe businessmen and women to take advantage of the forthcoming Central Province Investment Forum and Expo to insure their firms.

Ms Chinyemba noted that many people only insured the vehicles to avoid coming into conflict with the law, but stated that insurance is planning for the future.

And Senior Education Officer, Guidance and Administration, Issac Chisulo, said the pupils who are attending the Insurance Week will be engaged into debate contests on insurance issues.

Mr. Chisulo said the Insurance week has also given the pupils a chance to acquire research skills as debate calls for extensive research work.

Several schools will participate in debate on insurance issues during the Insurance Week with a view of sensitising the general public on the importance of insuring life, property and businesses.

The theme of this year’s Insurance Week is ‘Insure today: secure your tomorrow.’