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Published on : May 20, 2014

Recently, Okezie informed the journalists in Abuja that those in modern aged societies believe that the insurance industry is a huge deterrent to negligence by both general public, as well as public authorities.

The insurance industry is a significant commercial platform that is well known for its powerful lobbies across the world. A well-established robust and fit-for-purpose insurance industry is highly capable of managing the state of insecurity facing Nigeria, said the UK-based lawyer and management consultant KachiOkezie.

In the UK, the non-performing police chiefs from office have been forced by the industry to curb the rising crimes such as burglarythat is the biggest prick in the industry’s finances, added Okezie.

Worldwide, analysts believe that the heart of the global financial center, traditional home of Lloyds - the world\'s premier insurer,the bombing of the City of London (the Square Mile) all of it marked the crucial change that forced the government to the table,Okezie explained. He said this despite being aware of the avowed refusal for years to have a talk to the IRA.

Okeziesaid, imagine thebehavior of the business community and individuals would face when they would be under pressure from the insurance industry. There would be more consideration about risk and compensation.