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Nico Insurance Zambia Limited has launched the Pedal Cycle Insurance Policy aimed at insuring cyclists against risks of accidents or theft.
Speaking at the launch of the policy in Chipata last night, Eastern Province Permanent Secretary, Chileshe Mulenga, said any country’s development is mainly dependent on the education of the general citizenry on various issues.
Dr Mulenga said this is why the decision by Nico Insurance to introduce an extension of insurance to cyclists will have a good impact on the country’s development.
He noted that poverty is mainly caused by lack of knowledge by the general public to make right choices that can bring about national development.
He explained that cycling is a good business that led to self-reliance especially among youths.
The PS said it is for this reason that the business should be protected against any possible risks of accidents that can lead to death and body injuries.
Dr Mulenga has since advised Nico Company to roll out the Pedal Cycle Insurance policy to all parts of the Eastern Province where cycling business is common.
And Nico Insurance Zambia Limited Chief Operating Officer, Prince Nkhata, explained that the product is a realisation of inherent risks that people who use bicycles encounter on daily bases on the roads.
Mr Nkhata said risks that cyclists face need to be transferred to individuals or companies whose core function is risk management such as Nico Insurance Zambia Limited.
He noted that Nico Insurance is an innovative company, hence the decision to make an insurance product for the masses that are ordinarily overlooked by many insurance companies.
Mr Nkhata further advised the general public to learn and understand the service that was launched for their benefit.
