The Lagos State Governor, Babajide Sanwo-Olu, has called on people in the state to embrace right insurance policies, saying such will be beneficial when unfortunate incidents occur.

Sanwo-Olu, who was represented by the Commissioner of Finance, Dr Rabiu Olowo, said this on Thursday during the grand finale of the Lagos State Civil Service Insurance Week, organised by the Ministry of Finance in Ikeja.

He said, “Embracing appropriate insurance policy is still one of the prudent decisions anyone could make considering the fact that different forms of unfortunate incidents happen around us. We have instituted insurance as a culture in Lagos State and I call on all our people to embrace this initiative.”

Sanwo-Olu noted that a thriving insurance sector is the key to a developed economy.

“No modern economy can achieve its full growth potential without a well developed and thriving insurance sector. I cannot but recall the devastating destruction to public assets as a result of last year’s #EndSARS protest which was hijacked by hoodlums.

“If not for a solid and proper insurance arrangement, the government would still be grappling with the challenges of replacement, reinstatement and repairs of damaged properties,” he added.