By Rosemary Iwunze
Following the conclusion of the insurance industry recapitalisation exercise, the sector is now expected to protect Nigeria’s manufacturing sector against costly industrial risks.
It is also expected to have significant implications for manufacturers whose operations are exposed to risks ranging from factory fires and machinery breakdowns to marine cargo losses, engineering failures and prolonged business interruptions.
These positions were contained in the June edition of the Pan-African Manufacturers Association (PAMA) report.
The report noted that for many years, limited capital constrained the ability of Nigerian insurers to retain large industrial risks.
