Minister of Finance and National Planning, Situmbeko Musokotwane, says the private and the public sector should work together to mitigate climate risks and cushion the impact it brings on citizens.
Dr. Musokotwane says it now more important for citizens to find ways of diversifying their income and manage risks.
He was speaking in Chongwe today, in a speech read on his behalf by Ministry Acting Permanent Secretary, Mulele Mulele, during the launch the 10th Insurers Association of Zambia (IAZ) annual insurance conference, under the theme “adapting to the changing landscape of economic, environmental and social risks.”
Dr. Musokotwane said insurance is one proven way that can help Zambians prepare for the unexpected such climate change.
He said Zambians, despite living in a global village, can be strategic on how to respond to various economic shocks through the use of insurance.
Dr. Musokotwane pledged government’s commitment to supporting the use of insurance by providing financial literacy education.
He however urged the insurance industry to raise the bar and provide timely and innovative services that meet customer expectations.
“Good reputation of the Insurance industry will remedy a lot of the challenges faced when trying to market Insurance,” said Dr. Musokotwane,
Speaking during the same event, IAZ President, Ireen Muyenga, said the insurance sector has been able to respond to shocks brought about by climate change as seen through the recent pay-outs under the Farmer Input Support Program (FISP) Weather Index Insurance Program.
By Cecilia Zulu
