NAICOM, Police- Force Poised to Enforce 3rd Party Motor Insurance
The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission, Mr. Olusegun Ayo Omosehin paid a working visit to the Inspector General of Police, Federal republic of Nigeria, Mr. Kayode Adeolu Egbetokun at the Force Headquarters today, Friday, January 10, 2025
The Commissioner for Insurance Mr. Omosehin congratulated the IGP on his notable achievements, particularly the recent licence acquisition for the Police Insurance Company. He reminded the IGP of his earlier request for assistance in enforcing all compulsory insurance policies, but this time narrowed his focus on Third-Party Motor Insurance.
The CFI pledged to provide the necessary support to ensure seamless enforcement of third-party motor insurance across the country.
To guarantee the success of this initiative, the CFI emphasized the need for a mass awareness campaign and education of the Nigeria Police Officers.
In response, the IGP expressed his alignment with the CFI for insurance, acknowledging the compulsory nature of third-party motor insurance in Nigeria. He emphasized that violating this law is punishable, yet unfortunately, only 30% of vehicles in the country are insured.
The IGP highlighted the numerous benefits of having insurance coverage, stressing the importance of protecting lives and property. He urged citizens to obtain at least a third-party insurance cover for their vehicles before driving on Nigerian roads.
To ensure compliance, the IGP announced that full enforcement of third-party motor insurance will commence on February 1, 2025.
Present at the meeting was the Deputy Commissioner, Technical, Dr. Usman Jankara, the Deputy Commissioner Finance and Administration, Mr. Ekerete Ola Gam-Ikon, Director Legal, Enforcement & Market Development, Dr. Talmis Usman, Director of Inspectorate, Mr. Bankole Ajebola, Senior Police Officers, and others.
