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The Nigerian Insurers Association (NIA) has set up a sub-committee to come up with appropriate cover; rate and documentations for underwriting of electric vehicles.
The Chairman, Motor Technical Committee, Nigerian Insurers Association, Dr. Joyce Odiachi, said this in a report of the committee submitted to the association.
She noted that the committee is also working on reviewing of motor yellow book. According to her, the yellow book, is the guide for motor insurance, adding that the book has not been reviewed in line with current reality.
She said the committee intends to review the book and come up with recommendations for the association, stressing that the review would be inclusive of motor depreciation schedule and applicable terms and conditions under the motor portfolio.
