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Chuks Udo Okonta
As motor insurance policyholders continue to battle insurers on negligence that lead to fines by Lagos State Vehicle Inspection Service, an insurance agent has called on managements of underwriting companies to buy professional indemnity policies for their employees and not to be compelling them to pay fines arising from professional mistakes.
The agent who asked not to be named, told Inspenonline that managements of insurance firms, compel marketers and underwriting staff to pay fines arising from faults on their transactions.
He noted that to avoid such Ill treatment, professional indemnity policy is needed for employees, adding that because the management do ask employees to pay, they feel unconcerned about having such a policy, which they sell to the public.
According to him, if there is aforementioned policy in place, companies would be able to recoup losses incurred on fines.
He went further to advised marketers on how to avoid incurring fines, especially from motor insurance business.
He enjoined marketers to be diligent to avoid inputting wrong details on their portal and that of the Nigerian Insurance Industry Database (NIID).
He also enjoined marketers to always collect clear vehicle particulars and not blurred copies.
He said details of the insured and vehicle should be lodged into the portal immediately they are worked on without delayed and work should not be delay while client make a premium payment.
He also called on managers of the NIID to ensure their servers are always available to ease transmission.
Inspenonline had earlier reported that motor insurance policyholders are ensuing that fines imposed on them by Lagos State Vehicle Inspection Service for driving without valid insurance papers, are passed on to their insurers for not either uploading or capturing their correct data.
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