Insurance and reinsurance companies in the country under the aegis of the Nigerian Insurers Association (NIA) have appealed to the federal government to extend to them a bail-out fund as was done in the recent interventions in the different arms of the finance industry.
They reasoned that it would amount to injustice and insensitivity on the part of government to bail out intermediaries in the market, including stock brokers and banks, who lost very little or no resources to the crash in capital market, and leave out insurers who suffered huge losses in their capacity as corporate investors and risk bearers.
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