The Nigerian Insurance Association has upscaled its market development initiatives through strategic engagements with various states and the integration has ploughed deep roots in Lagos state. The chairman of the association Mr Ganiyu Musa disclosed this at a media briefing in Lagos.
Set for launch in Lagos is the enforcement and validation of genuine compulsory third party insurance through the handshake of automatic number plate recognition (ANPR) device of vehicle inspection service (VIS) and Nigerian Insurance Industry Database verification platform.
Also expected to earn more premium is discussion with the agency of the state, Lagos State Building Control Agency with a view to using Nigerian Insurance Industry Database verification platform for enforcement, verification, and validation of genuine compulsory buildings under construction insurances backed by federal and state laws, first, Insurance Act 2003 (section 64) and Lagos state urban and regional planning and development (amendment) law 2019 (Lagos state urban and regional planning and development law, CAP U2 Lagos State Building Control Agency Regulations, 2019.)
At a multilateral level is discussion with Lagos State Safety Commission, Nigerian Corporation of Registered Insurance Brokers and Courteville on the implementation, enforcement and validation of genuine compulsory occupiers liability insurance through Nigerian Insurance Industry Database verification platform.
NIA helmsman said the conclusion of the four bodies discussion will be launched on April 28 2022 and enforcement will commence in line with the emerging regulations.