Insurance is not a nice to have, but a need to have

November 8, 2022

Someone once said “…Insurance is not a nice to have, but a need to have…”. Some will ONLY see it as a need to have because some classes of insurance have been dictated by the government as mandatory or are prerequisites to qualifying for tenders/contracts in some industries. However, insurance is a need to have on the basis that it promotes mitigation of losses, increases trade activities which all lead to sustainable growth and development of the economy.