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Chuks Udo Okonta
The Nigerian Council of Registered Insurance Brokers, Lagos Area Committee (NCRIB-LAC) as part of its proactiveness, has organised a workshop to educate its members on how to provide insurance services on Compressed Natural Gas (CNG) enabled automobiles.
The Chief Risk Officer/Head Enterprise Rex Insurance Limited Idongesit Mbat, who presented the workshop paper themed: “The Advent of Compressed Natural Gas Into Nigeria Automobile Transportation: Insurance Perspective” today in Lagos, noted that in providing insurance for CNG automobiles, pre-acceptance risk inspection should be mandatory, adding that operators should also insert clauses for insured roles as conditions precedent for admission of liability in the policy wordings.
He submitted that insurance brokers should request for evidence of compliance with safety at policy renewal and watch out for risk accumulation by paying close attention to risk when onboarding fleet owners; auto sale shops and mechanic workshops/service centres.
He charged the operators to look out for best practices and house-keeping when onboarding gas stations and trucks, stressing that they should provide risk advisory for truck drivers and logistic operators switching to CNG as there would be a possible increase in Goods In Transit (GIT) claims due to long delays/travel time that could run the unsafe hours of the night.
Mbat maintained that operators should always request for record of maintenance history at risk inception and at renewal, stating that risk inspection mid-term of the insurance period is recommended, although it may increase the underwriters cost, but it is worth doing.
He also tasked brokers to check age of cylinders at renewal, stating that CNG cylinders have safe usage lifespan of about 15 years.
The President of NCRIB Babatunde Oguntade, implored brokers to be careful when providing CNG insurance services to clients, urging them to follow all stipulated rules and act professionally to avoid unnecessary claims in the industry.
He also charged them to patronize licensed CNG conversion centres, stressing that several unlicensed individuals now pose as experts, seeking for people to defraud.
The Chairman NCRIB-LAC Ademola Olutusin, urged participants at the event to adhere and utilise the knowledge gained at the workshop and ensure they follow stipulated rules when offering services to their clients.
He submitted that the Committee remains resolute in providing members necessary knowledge and assistance they require to drive their businesses to lofty heights.
