Business

Chamber educates members on importance of insurance

By ELLEN STOLZ Suva Chamber of Commerce and Industry in partnership with the Insurance Council of Fiji co-hosted the QBE Insurance presentation on ‘Insurance – Its benefits and Under Insurance’
10 Oct 2012 08:20

President of the Insurance Council of Fiji, Matthew Kearns at Holiday Inn Suva yesterday. Photo: NAVNEET NARAYAN

By ELLEN STOLZ

Suva Chamber of Commerce and Industry in partnership with the Insurance Council of Fiji co-hosted the QBE Insurance presentation on ‘Insurance – Its benefits and Under Insurance’ at the Holiday Inn Suva yesterday.
Suva Chamber of Commerce president, Dr Nur Bano Ali said such presentations on insurance were encouraged and important for Fiji.
“Insurance is an integral part of business, property and our lives so it’s sometimes misunderstood in a lot of ways so I think as much education that we can get in this area will be greatly appreciated,” she said.
Dr Ali also said such presentations not only educate individuals but businesses as well on the importance of insurance, the risks associated with it and the accessibility of it.
President of the Insurance Council of Fiji, Matthew Kearns said: “The islands are an often forgotten part of the insurance global market.”
Mr Kearns said it was an initiative that they deemed important and thus similar presentations have been carried out in Papua New Guinea, Vanuatu and the Solomon Islands all within the past month.
“Yes, the Pacific forms a small proportion of the global insurance market but we do have a large number of catastrophes that originate from here. So it is important for us to explain why insurance is costly in the islands,” Mr Kearns said.




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