In a collaborative move to strengthen insurance compliance in the country, National Insurance Commission (NAICOM) and the Nigeria Police Force (NPF) have inaugurated a joint committee on enforcement of compulsory insurance laws.
The inaugural meeting took place on January 30, 2025, at NAICOM’s headquarters in Abuja.
The Commissioner for Insurance, Segun Omoshein, who was represented by the Deputy Commissioner for Insurance, Finance and Administration Mr. Ekerete Ola Gam-Ikon at the meeting and the Police Force team was led by DCP Mallum Maina.
Objectives of the Joint Committee, according to the commission was develop and implement strategies for enforcing compulsory insurances in Nigeria.
“Ensure compliance with compulsory insurance policies as mandated by the Insurance Act and other related laws
‘Foster synergy and collaboration between NAICOM and NPF
” Provide training and capacity-building programs for personnel of both organizations on compulsory insurances
The scope of work include to evaluate existing challenges in enforcing compulsory insurances and propose solutions.
“Develop protocols for joint enforcement operations of compulsory insurances and recommend policy reforms to strengthen insurance compliance.
Others are to 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.
“To ensure seamless enforcement and as part of the inauguration, 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.
