Fed govt backs NAICOM on insurance enforcement


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Chuks Udo Okonta

The National Insurance Commission (NAICOM) has secured full backing of the federal government to ensure Nigerians comply with rules on compulsory insurances.

Inspenonline gathered that the federal government’s support has paved way for a strategic meeting that will be attended by NAICOM executives and officials from five federal government’s agencies.

Confirming the meeting which will hold on Thursday this week in Abuja, the Deputy Director/Head Corporate Communications & market Development, NAICOM, Rasaaq Salami, told Inspenonline that the meeting would be attended by 15 officers of the Nigeria Police Force; 15 personnel of Federal Road Safety Corps; 10 members of the Federal Fire Service; five representatives of the Federal Capital Administration and 15 officers of Vehicle Inspection Service.

He noted that the strategic meeting would provide an avenue for the officers to understand the areas the are expected to focus on whilst carrying out the enforcement.

He submitted that the enforcement exercise would be carried out across the country and that it would be sustained to ensure full compliance by the citizenry.

Before taking this step, NAICOM had developed a robust portal that would enable the agencies conduct verification of all compulsory insurance documents that would be tendered by the public.

NAICOM is expectant that this move would help weed out fake insurance papers and enhance compliance.

Industry observers have over the years, attributed the low insurance patronage to lack of enforcement by the government and insurance industry practitioners. This new move is expected to change the narrative and improve insurance uptake in the country.


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