Pursuant to its position on insurance compliance in the country, the National Insurance Commission (NAICOM) has initiated a working relationship with the Nigerian Civil Aviation Authority (NCAA) to enhance the delivery of insurance related results in the aviation sector, marking the beginning of a new collaborative effort.
To this effect, a committee to drive the process was inaugurated at the Headquarters of NAICOM in Abuja on Wednesday, January 22, 2025.
This was contained in a statement issued by NAICOM.
Dr. Usman Jankara, the Deputy Commissioner Technical who stood in for Mr. Olusegun Ayo Omosehin, the Commissioner for Insurance and CEO of NAICOM received the team from NCAA led by Mrs. Dorcas Rominiyi.
Dr Jankara emphasised that the National Insurance Commission’s primary responsibility is to regulate the insurance industry’s business activities and safeguard the interests of policyholders. “This comes in response to misconceptions that the Commission only serves the interests of insurance operators, rather than balancing the needs of both parties. By emphasizing the Commission’s core mandate, the Commission aims to reassure the public that their protection is a top priority,” he added.
The Deputy Commissioner emphasized the need for flexibility and automation of processes, expressing confidence in the committee’s ability to deliver due to the caliber of its members.
The primary objective of the joint Technical Committee is to reaffirm the Commission’s long-standing commitment to safeguarding the interests of policyholders. In the event of any accident or incident, the Committee ensures that all affected third parties receive fair compensation and are properly indemnified.
The terms of reference for the joint committee include:
- Verification of certificate of Insurance and other insurance related documents of airline operators, affiliate agencies, and NCAA service providers.
- Provide Technical support to NCAA on insurance matters.
- Coordinate/facilitate resolutions of complaints of airline operators on insurance covers and services during periodic meetings.
- Provide advice to NCAA on all aviation insurance related matters bordering on adequacy and validity.
- Coordinate trainings/workshop/awareness programmes for NCAA/NAICOM and its stakeholders on aviation insurance.
- Coordinate training on insurance and aviation matters.
- Organise and attend periodic meetings of both organisations.
- Carry out periodic review of the minimum insurance cover requirements by all persons/group of persons having a duty as operator/provider in the Aviation sector to maintain adequate insurance for their operations during periodic meetings.
- Organise and attend periodic meetings with airline operators and insurance providers.
- Carry out any other tasks as the Collaboration allows.
Deputy General Manager, Financial Health & Aviation Insurance, Mrs Dorcas Rominiyi who led the NCAA Delegation in her response pledged to exhaust all efforts in ensuring the successful attainment of the committee’s objectives.
Mr. Ajuyah Omeresan Alfred (Asst. Director Special Risk), in his vote of thanks, reaffirmed NAICOM’s unwavering commitment to ensuring the aviation sector operates efficiently and effectively, both now and in the future.
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