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SMIs urged to consider insurance as
protection of assets
Source:
Bernama, 25th September 2007
Players in the
country’s small and medium industries (SMIs) should not consider
insurance as an expense but as protection for their assets.
Raj Nanra, chief
executive officer and managing director of ACE Synergy Insurance Bhd,
said this was because insurance, part of risk management, was an
important aspect to ensure the sustainability and longevity of their
business.
At the moment,
the level of penetration of insurance among the SMI players was still
low, Nanra said.
“This is because
they consider it as an expense and try to reduce it as much as
possible,” he told reporters after the signing of a memorandum of
understanding between ACE Synergy Insurance and the SMI Association of
Johor Selatan recently.
Under the
agreement, ACE Synergy will work closely with the association to assess
the insurance needs of its 400 members and provide appropriate advice
and cover to meet their identified risk management needs.
The insurance
company will also provide complimentary personal accident coverage to
all association members for a 12-month period.
–
Bernama
Ke atas
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