“Insuring Wealth” By Taiwo Sanyaolu and Kehinde Sanyaolu is a compendious yet broadly educating intelligible piece that expounds on an age old concept of guarding financial resources from the ever present risk of loss to accidents and unpredictable cataclysms.
In the book, the authors explore how the financial burden of replacing property lost to accidents can easily be shifted to a third party by adopting this simple financial concept in advance. They carefully ensure that without fail readers appreciate how insurance, often disregarded and mostly ignorantly shrugged, can help an individual achieve a reposeful financial life.
The book is the first in the Stakes Personal Finance series and takes the model of an 'insurance for dummies', presented in an extremely lucid manner for easy comprehension.
Aside getting to understand the origin of modern insurance business, readers will also learn – What Insurance is; How Insurance Works (Re-insurance and How Premium Is Calculated); Insurable Risks/What you can and can’t insure; Types of Insurance; Why you need Insurance and Insuring in Nigeria (Car Insurance, Home/property insurance, Life Insurance, Health Insurance).
Furthermore, it explores: Differences between Insurance and Assurance and takes a look at the Insurance industry in Nigeria [The makeup and the role of Insurers, the Chartered Insurance Institute of Nigeria, Re-insurers, the Nigerian Insurers Association, Insurance Brokers, the Nigerian Council of Registered Insurance Brokers, Insurance Agents, Association of Registered Insurance Agents, Loss Adjusters and Institute of Loss Adjusters of Nigeria].
Also highlighted are the Six Compulsory Insurance Policies in Nigeria; the process of claim requisition and finally a list of registered insurance companies in Nigeria.