May 03, Colombo:The Insurance Association of Sri Lanka (IASL) has assigned May 05 as the Public Awareness Day on Insurance to educate the general public of Sri Lanka in regard to the benefits of Insurance.
The Chairman of the Association Ramal Jasinghe said that the aim of the Awareness Day was to make the people of Sri Lanka aware of the importance of insurance and to build trust between all parties related to insurance.
He says the public’s lack of knowledge on the importance of insurance in facing difficult situations in life and the benefits of insurance prevent the growth of the insurance market.
He also pointed out that 18 companies are operating in the insurance field of Sri Lanka but only 10.4 percent of the populations are covered by these insurance companies.
The insurance market contributes to 1.3 percent of the gross national product, he pointed out.