Edo Insurance Stakeholders Forum Achieves Major Milestone, Pushes for Sector Growth and Awareness

​-By Ruben Mario Brodrick 

Benin City, Edo State — The Insurance Stakeholders Forum, Edo State marked a significant achievement with its official registration and held an eventful Insurance Week lecture on Thursday, December 4, 2025, aimed at driving public awareness and professional development within the insurance sector.

​ Forum Attains Full Registration and Commits to Advocacy

​In his address, Sir Chief Dr. Bibowei James Braie, President of the Forum, announced that the organization is now a fully registered body. This milestone provides the Forum with an official platform to operate and contribute meaningfully to the growth of the Nigerian insurance industry.

​Dr. Braie highlighted the Forum's 25-year commitment to advocacy, utilizing radio, television, and various media platforms to educate the public on the importance of insurance. The Forum has also made significant contributions to the teaching and study of Insurance at the University of Benin (UNIBEN), helping to develop future industry experts.

​To strengthen internal unity, a welfare scheme has been created for members, promoting collective care and solidarity. The Forum also expressed strong support for the recently passed Nigerian Insurance Industry Reform Act (NIIRA), 2025, anticipating that it will spur growth and innovation across the sector.

​ Focus on Public Enlightenment and Digital Engagement

​The Insurance Week event featured a public lecture held at the Bishop Kelly Pastoral Centre Main Hall, Airport Road, Benin City, focusing on key insurance concepts:

  • ​Insurance Defined: A mechanism for the insuring public to transfer their risk to insurance companies to receive compensation when a loss (Accident) occurs.
  • ​Insuring Parties: The scope of insurance covers individuals, corporations, schools, churches/mosques, professional bodies, and all tiers of government (Local, State, and Federal).
  • ​The Need to Insure: Insurance serves to protect fixed and floating assets, restore the insured to their position prior to the loss, and provide succour to families.
  • ​Claim Settlement: Claims can be processed rapidly, with a maximum time frame of ninety (90) days.

​During the discussion, stakeholders called for increased visibility, insisting that the "testimonial of the successes of Insurance be loud on social media." They emphasized the need to publish the activities of insurance in the state, ensuring that the faces of insured clients are captured only with explicit company or customer approval.

 Event Summary and Acknowledgements

​The public lecture, featuring a key presentation by Ven. Prof. Ifuero Osamwonyi, was a major part of the Insurance Week schedule.

​The Forum acknowledged the support of sponsors, including Linkage Assurance Plc., Prudent Choice MicroInsurance Co. Ltd., and Staco Insurance Company Limited, for their belief in the Forum’s vision.

​The President concluded with an optimistic outlook, expressing confidence that the efforts of the Forum will lead to a "better, stronger and more inclusive Insurance Industry" in the state and the nation in the years ahead.

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