Scope of Work of the committee will be to Evaluate existing challenges in enforcing compulsory insurances and propose solutions; Develop protocols for joint enforcement operations of compulsory insurances; Recommend policy reforms to strengthen insurance compliance; Undertake public sensitization programs on compulsory insurances, and Develop training programs for personnel of both organizations 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, NAICOM said Thursday.
To ensure seamless enforcement and as part of the inauguration, Ekerete Ola Gam-Ikon 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, respectively.
With this joint committee in place, NAICOM and the NPF are poised to make a significant impact on insurance compliance in Nigeria.
