The National Insurance Commission (NAICOM) and the Nigeria Police Force (NPF) have embarked on a collaborative move to strengthen insurance compliance in the country following the announcement by the Inspector General of Police on the enforcement motor vehicle insurance effective 1st February 2025.
The move has culminated in the inauguration of a joint committee on enforcement of compulsory insurance laws in Abuja Thursday January 30, 2025, at NAICOM’s headquarters.
The Commissioner for Insurance (CfI) Olusegun Ayo Omosehin was represented by the Deputy Commissioner for Insurance, Finance and Administration Mr. Ekerete Ola Gam-Ikon at the meeting and the Police Force team was led by DCP Mallum Maina.
The Joint Committee was given four objectives: to Develop and implement strategies for enforcing compulsory insurances in Nigeria; Ensure compliance with compulsory insurance policies as mandated by the Insurance Act and other related laws; Foster synergy and collaboration between NAICOM and NPF; as well as Provide training and capacity-building programs for personnel of both organizations on compulsory insurances.
In ensuring the success of the programme, NAICOM says the committee has the responsibility of evaluating existing challenges in enforcing compulsory insurances and propose solutions, developing protocols for joint enforcement operations of compulsory insurances, recommending policy reforms to strengthen insurance compliance, undertaking public sensitization programs on compulsory insurances and they are to develop training programs for personnel of both organizations on compulsory insurances.
NAICOM reaffirms its commitment towards ensuring all vehicle owners comply with compulsory insurance laws, adding that the collaboration aims to promote a safer and more secure environment for all road users.
To ensure seamless enforcement, the Deputy Commissioner, Finance & Administration, Ekerete Ola Gam-Ikon referred the Committee to some key tools, including the Insurance Act 2003, the Inspector General’s speech on Third-Party Motor Insurance enforcement, list of licensed insurance companies authorized to conduct motor business and NAICOM USSD *7292# for verification of insurance policy. Additionally, he said motorists can visit www.askiid.org and www.niip.ng to verify any motor insurance certificate and to purchase genuine Third-Party Motor insurance.
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