Experts in Nigeria’s insurance sector are worried about the level of penetration of insurance policies in the country.
The agree that the main reason for this negative perception is trust deficit.
This development prompted this practitioners to seek ways of promoting inclusive insurance participation in the country.
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They hinted that the Nigerian government in collaboration with the central bank of Nigeria and the National insurance commission of Nigeria have instituted an efficient, progressive and comprehensive Islamic financial system and introduced Takaful as a key component of Nigerian financial system.
