By Onwa Ekor
The Cross River Microfinance and Enterprise Development Agency, CR-MEDA, has begun a preliminary evaluation of leading insurance companies in the state as part of efforts to strengthen financial protection for Micro, Small and Medium Enterprises, MSMEs.
The move follows a recent fire incident that destroyed several local businesses and left owners with heavy losses.
Speaking on the initiative, CR-MEDA Director-General and Chief Executive Officer, Mr. Great Ogban, said the review aligns with the state government’s commitment to mitigate risks from unforeseen disasters and build resilience among small business owners.
“Part of the support package is that eligible small businesses will be enrolled in selected insurance programmes at no cost to the owners,” Ogban said.
He added that the screening is focused on identifying underwriters with MSME-friendly policies, comprehensive coverage and strong claims-paying capacity.
Four firms are under review: Fortis Global Insurance, led by Unit Manager Anthonette Odey; Leadway Assurance, led by Branch Manager John Orisa; AXA Mansard, led by Business Development Lead Ubong Edet; and International Energy Insurance Plc, led by Head of Business Development, Cross River, Grace Ikpa.
