The Nigerian Police and the National Insurance Commission NAICOM, have firmly placed their statutory hands on the dial to develop protocols for joint enforcement of compulsory insurances and equally recommend policy reforms to strengthen insurance compliance as mandated by the Insurance Act and other related laws.
This signals the end of lethargy in the enforcement of compulsory insurances as the collaborative move would evaluate existing challenges in enforcing compulsory insurances and propose solutions that would cap strategies for enforcing compulsory insurances in Nigeria. The road that leads to the solutions was identified when the DCP Mallum Maina led the Nigeria Police team to inaugurate joint committee on the enforcement of compulsory insurances at NAICOM headquarters in Abuja. The Commission was represented by the Deputy Commissioner for Insurance, Finance and Administration Mr. Ekerete Ola Gam-Ikon.
This follows the announcement by the Inspector General of Police Kayode Egbetokun on the enforcement motor vehicle insurance effective 1st February 2024. Demonstrating that this committee is hooked to marathon run, they have agreed to develop training programs for personnel of both organizations on compulsory insurances and beyond these two major players they have extended the pledge to put all concerned Nigerians on notice by the decision to undertake public sensitization programs on compulsory insurances.
The joint committee’s inauguration marks a significant step towards ensuring that all vehicle owners comply with compulsory insurance laws. This collaboration aims to promote a safer and more secure environment for all road users.
To ensure seamless enforcement the Deputy Commissioner, Finance & Administration, 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, or visit www.askiid.org and www.niip.ng to verify any motor insurance certificate and to purchase genuine Third-Party Motor insurance.
They were clear that this joint committee would make a significant impact on insurance compliance in Nigeria.
