Nigeria Police assures NAICOM of support to enforce compulsory insurance
The Inspector General of Police (IGP), Kayode Egbetokun, has assured the National Insurance Commission (NAICOM) of support to enforce Third Party compulsory insurance in the country.
The IGP made the remarks in response to the request made by the Commissioner for Insurance/CEO, National Insurance Commission (NAICOM), Mr. Olusegun Omosehin, when he let members of the Executive Management of NAICOM on a courtesy visit to his office at Louis Edet House, Force Headquarters, Abuja.
The CFI had, in his remarks, requested the establishment of a team by the Police Force, to collaborate with the Commission, in conducting enforcement actions.
While assuring the Commissioner for Insurance of the Nigerian Police Force’s full support in enforcing compulsory 3rd party insurance, the IGP said “A team, headed by the Deputy Inspector General (DIG) Operations, will be set up to oversee the enforcement of compulsory insurance.
Earlier in his remarks, the Commissioner for Insurance/CEO, NAICOM, Mr. Omosehin intimated the IGP on the objectives of his courtesy visit.
According to him, the purpose of the visit was to seek an audience with the IGP and the management of the Nigerian Police Force (NPF), who are critical stakeholders aligned with NAICOM’s vision, to achieve its mandate, particularly in the area of compulsory insurance enforcement.
During the visit, the Commissioner for Insurance requested collaboration to advance the Nigerian insurance sector roadmap.
He emphasised that it is unlawful for individuals to drive on the road without valid motor insurance (3rd party), noting that less than a quarter of the vehicles plying the roads have valid motor insurance.
The CFI stated that the visit aimed to seek NPF’s collaboration to ensure the enforcement of compulsory 3rd party motor insurance, as mandated by law.
The CFI also highlighted that in 2023, the ECOWAS Brown card has been captured in the upgraded premium for 3rd party motor insurance cover by NAICOM, allowing insured vehicles to travel across the West African sub-region. Additionally, he noted that the benefits attached to the 3rd party insurance had been increased to N3 million.
To further this initiative, the CFI underscored the need for digitization platforms to authenticate the validity of vehicle insurance. He mentioned that this system is already being implemented by the Lagos State government.
The CFI requested the establishment of a team to collaborate with the Commission in conducting enforcement actions, asserting that the success of this initiative would be a significant achievement for Nigeria.
