Wapic Insurance Seeks To Mitigate Oil, Gas Risks

Wapic Insurance Seeks To Mitigate Oil, Gas Risks

The Managing Director, Wapic Insurance Plc, Mrs. Adeyinka Adekoya, has said that insurance players must play a major role in indemnifying losses in the oil and gas sector to prevent the industry from being handicapped financially after any major loss, The Punch reports.

Adekoya said this during a seminar organised by the firm for stakeholders in the financial sector, with the theme, ‘Trends in upstream underwriting risks,’ in Lagos on Wednesday. She said, “Due to the nation’s dependence on the oil and gas sector, it is invariably important that one should consider the risks involved both in the offshore and onshore operations.”

The Wapic boss said the aim of the conference was to contribute to an industry-wide understanding of the recent trends and nature of risks peculiar to the oil and gas operations in Nigeria, as well as the latest solutions and risk mitigation measures in addressing such.

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