ICA Seminar on Risk Management/Insurance in Cooperatives - Report on the Proceedings, Nairobi 1972

Abstract

As ovmer3 and C3,retake3:*s of assets of various nature, Co-operative Organisations have a great responsibility to¥/ards the members, of protecting these assets against losses. As in other business organisations therefore, Insurance is a vitally important aspect in the management of Co-operative Societies. In its basic objectives, Insurance is in a way similar to Co-operative practicc in that they both share the principle of mutual help. It is a relationship inviting a study of the possibilities of integration. As the Co-operative Movements of Africa have continued to grow and expand their business activities in recent years, so have their needs for the vari ous insurance arrangements been increasingljr felt. In recognition of these felt needs, the ICA Regional Office for East and Central Africa organised a Regional Semi nar on Risk Management in Co-operatives, which was conducted at the Co-operative College of Kenya, Nairobi, from 10th to 15th January, 1972. The Seminar, which was planned and run in collaboration v/ith the ICA Insurance Development Bureau, as well as several local experts from v/ithin the region, provoked such lively and useful discussion on some of the urgent current problems of insurance, that it was decided to compile the deli berations in the form of this book. It is hoped that as a result of the information and nev/ knowledge gained at the Seminar, and also the awareness for Insura.nce that has been created, the Co-operative Movements of Africa will in future be able to organise Insurance for their Societies in a manner most beneficial to their members. As will be seen from the report, the Insurance needs of the coimt ries vary according to the stage of development reached by each Movement# For example, some countries require arrangements on a'n agency basis for a start, while others are considered ready for the formation of a national Insurance Society