The importance of insurance in industrial business

The industry sector plays an important role in the generation of wealth and job creation in our economy and it is expected that in the future this role will become increasingly relevant. The amounts invested in this sector may be high and the productive processes may be associated with relevant risks. For this reason, it is recommended that companies are properly insured.
Along with prevention and safety measures, we would highlight the importance of risk analysis of the various production units, through which recommendations will be obtained, enabling risk mitigation and establishing the conditions of the insurance policies to be taken out. In this context, insurance takes on an important role as an indispensable catalyst for the development of the industrial sector, due to its contribution in risk reduction, replacing uncertain losses with predictable costs and thus guaranteeing the financial stability and future of companies and the economy.
We have witnessed the maturing of the Angolan insurance sector, with companies such as NOSSA Seguros assisting companies in the industrial sector to deal with the various risks to which they are confronted, namely those related to loss of or damage to property, loss of revenue/profit, civil liability, loss of data (cyber insurance), personal injury and loss of life.
Thus, due to its high importance for industrial business, it is worth highlighting machinery insurance (breakdown and comprehensive), which covers the cost of repairs and the replacement of damaged machinery in situations of accidental breakdown and material damage. On the other hand, and as people are still the main asset of any economic activity, reference should of course be made to insurance covering Accidents at Work and Job-related Illnesses, which is compulsory in Angola. And, considering that there is nowadays also a greater awareness of environmental issues, we would highlight the importance of environmental insurance, which covers losses or damage resulting from unexpected discharges of pollutants normally excluded in general liability and property insurance policies.
NOSSA Seguros insurance covers can be combined in a package with attractive conditions. With the support of our local and international partners, we can support our customers in selecting the most appropriate covers according to the companies’ specific needs.
NOSSA Seguros has been in the market for 16 years and occupies a leading position in the insurance sector, offering life and non-life products, in addition to pension fund management services. Its national presence includes its own branches located in 16 provinces, and agency branches at BAI bank located throughout the national territory, as well as a telephone service. NOSSA Seguros stands out for its financial soundness, a commitment that guarantees its capacity to honour its obligations, and strives to guarantee a high-quality service and a good experience to its customers.