It is often said that destiny is written! At this point approaches and views are different but one thing unites them, fate is generally attributed to events that happen or that may happen. In fact, the mind goes to those events that in one form or another directly affect the daily life of everyone. Remaining in a worse financial situation than the existing one is among the most common fears.

You have worked and sacrificed for a long time, you have made the investment of your life but in a moment, you see how everything is lost before your eyes due to a fire, earthquake, failure, etc. Of course, at this point fate can be a factor, but taking measures to minimize the consequences that the event brings is no longer related to fate but educating and raising awareness of everyone in order to address the risk properly.

Insurance is a technique identified since ancient times with the Babylonians and Romans. These services took on modern forms in the 14th century in Italy and then in the 17th century in UK. In the current time context, Insurance is an integral part of everyday life in developed countries becoming an important factor of financial stability for any family or business.

What is happening in Albania? Insurance in Albania, compared to international markets, is a new service as well as the whole market of services. The efforts of insurance companies are numerous. It is marketed everywhere! But why do individuals not provide insurance of health, life, property, liability etc.? Why does the focus remain on car insurance? In fact, this is where the paradox of Albanian society arises. One thing is done because you have to do it. Because a law or regulation obliges you to insure. And why? Because the mentality that nothing happens to us even if it does happen the government will take care of the damages is deeply rooted in the national culture. Even after many events that have taken place over the years this approach has not changed. Thousands damaged by floods, thousands damaged by earthquake, thousands by fires. Very few of them were insured. If everyone's mentality was somewhat different even the state budget would be more grateful by channeling the funds for recovery in other directions.

Someone say it is an added expense for the individual even unaffordable. But how can it be categorized as an unaffordable expense, when housing insurance costs less than one coffee a day! Certainly not a matter of expense. This is a matter of mentality, educating and changing them is the real challenge.

Let's start with basic education. Let’s teach our children how to identify risks. And then in the most advanced cycles how to manage and transfer these risks in the most appropriate form. These individuals who grow up with the appropriate financial education will personally take over responsibility for the event by not claiming from third parties that provide support according to the context of the moment. The free market has all the financial instruments for a more peaceful life, when fate, no matter how it will come, will not leave us with the question: What should I do now?

F. Beshku

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