From left: Iyaloja Gbajumo Freidmaqueen Balogun, Mrs Abosede Atoyegbe; Consultant Corporate Skill’s Bridge Limited, Alex Chidi Anameje; former Group Managing Director, Lasaco Assurance Plc, Olusola Ladipo-Ajayi; Chief marketing officer, Law union & Rock Insurance Plc, Steve Ajudua and CEO Almond Productions Limited, Faith Ughwode at the event.
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Chuks Udo Okonta
The inability of law enforcement agents to enforce the purchase of insurance by Okada and tricycle (Keke) owners have continued to deny insurance operators billions of Naira yearly, Inspen can report.
Former Chairman, Nigerian Insurers Association (NIA), Olusola Ladipo-Ajayi, who confirmed this development at the 2016 Almond Insurance Consumers Forum in Lagos, noted that insurance companies parade good products for Keke and Okada riders, but lack of enforcement has made the parties not to buy the products.
He noted that prior to now, when the laws were enforced, the parties where buying the products, but now they drive with no insurance cover, because they are not compelled to buy.
He urged the government to support insurance by enforcing the procurement of compulsory insurances, adding that the insurance operators cannot be selling products and at the same time carry out enforcement.
The President, Progressive Shareholders Association of Nigeria (PSAN), Boniface Okezie, on his part, urged insurers to reach out to okada riders and Keke drivers, advising them to get the parties to buy insurance as it would enhance the premium base of the industry and by extension, shareholders.
