Still surging to engage all levers of enforcement of safer and secure driving on the roads the The National Insurance Commission (NAICOM) and the Federal Road Safety Corps (FRSC) have entered a recharged collaboration to strengthen enforcement of motor third-party compulsory insurance in Nigeria.
During a working visit to the FRSC headquarters in Abuja, the Commissioner for Insurance Mr. Olusegun Ayo Omosehin commended the Corps Marshal, Shehu Muhammed, ongoing efforts in ensuring road safety in Nigeria.
The commissioner who emphasised the importance of third-party motor insurance, outlined its benefits in two parts: Financial Benefits and Non-Financial Benefits. Under financial benefits, victims of damage caused by insured vehicles are entitled to ₦3 million, while in the event of death, the compensation is unlimited, depending on the value of the deceased individual. Non-financial benefits include financial safety, peace of mind, and confidence in compliance with government regulations.
The CFI called for improved collaboration between NAICOM and FRSC to ensure road safety, emphasizing that while it is the primary duty of FRSC, it is also an auxiliary duty of NAICOM to provide risk-mitigating measures through policy regulations.
In response, Corps Marshal Shehu Muhammed assured Omosehin of his partnership, stating that the least protection for vehicles is third-party insurance policy and its the primary responsibility of the Road Safety Corps as part of the National Road Traffic Regulation, making it compulsory for every vehicle owner to the least insurance protection.
