To help industrialists and business owners understand the importance and types of insurance for their businesses, Bhutan Insurance Limited, along with the central bank and the Samtse District Administration, held a day-long insurance literacy programme in Samtse yesterday.
With the Dhamdum and Norbugang industrial parks in Samtse slated to see major progress in the 13th Five-Year Plan, the district is rapidly transforming into an industrial hub.
Dhamdum Industrial Park is designated for clean-tech industries, while the industrial park in Norbugang will be used for ferro industries.
However, amidst the growth, there is a lack of understanding among industrialists about insurance coverage, which is a crucial aspect for business sustainability.
“With the changing needs, economy developing, and with His Majesty’s vision of changing the whole concept of finance in the country, we felt the need to educate and create awareness amongst the industrialists here in Samtse. Insurance plays a very important role, not only in terms of protecting your own property but in the event of financial losses as well as livelihoods of a lot of families,” said Sonam Tobgay, Director of Operations of BIL.
The workshop provided insights into various insurance products available, risk assessment techniques, and the importance of insurance in mitigating unforeseen circumstances.
“We do not know much about insurance. The general public and most people think it is a cost. But insurance is very important to provide protection and secure your assets. So, the programme that they have conducted is very important and timely for the industrialists,” said Dorji P. Phuntshok, a participant.
“There are a lot of information that is new to us and that will be beneficial for us. I am definite and I am sure that there are a lot of insurance policies that we need to take, will have to take, and we want to take because it is for our own benefits,” said Phuchu Dorji, another participant.
Thirteen industrialists from Samtse took part in the insurance literacy programme, the first of its kind in the country.
Bhutan Insurance Limited plans to organise similar programmes in other districts if the current workshop is successful.
Passang Dorji, Samtse
Edited by Sherub Dorji
