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Chuks Udo Okonta
Retail Insured Family Association of Nigeria (RIFAN), the largest insurance consumers community in Nigeria, whose major aim is to restore public confidence in insurance policies, has eulogised the Commissioner for Insurance, Olusegun Omosehin and Inspector General of Police, Kayode Egbetokun for their robust and fruitful meeting bothering on the enforcement of 3rd party insurance.
Recall, a courtesy visit to the Inspector General of police by the Commissioner for Insurance took place on June 11, 2024. During the visit at Louis Edet House, Force Headquarters, Abuja, it was stated that enforcement of the compulsory 3rd party insurance was top priority in the discussions.
The Commissioner while expressing his optimism on the possibility of getting insurance attractive again for the average Nigerian, sought collaboration of Nigeria Police Force on establishment of team for the enforcement, he quickly pointed out that it’s unlawful for individual to drive on the road without valid motor insurance ( 3rd party). He further noted that the benefit attached to the third party has been increased to N3 million.
In reaction to the Commissioner’s request, the Inspector General of Police promised to deploy DIG operations on enforcement of the compulsory 3rd party insurance.
Aligning with this commendable move, Director General of RIFAN, Ali Theophilus, appreciated both parties and registered his readiness to partner with them for the enforcement and sensitisation, stating that, it’s imperative to get the enforcement done as it is also in line with the Road Traffic Act for any vehicle plighing Nigeria roads to have 3rd party motor insurance.
Contributing further, Theophilus, pointed out that if the enforcement is properly carried out and obeyed by the general public, there will be a huge gross premium income to the insurance industry, and that would give room for easy payment of claims, thereby restoring insured confidence on insurance in Nigeria.
Theophilus, while commending the IGP for his wonderful move, implored him also to pass the massage of hope to Nigeria Police Force and all relevant law enforcement agents on the need to get their 3rd party motor insurance as it’s beneficial to every vehicle user irrespective of career or status in the society which law enforcement agents are not excluded. Adding that greater percentage of law enforcement agents neglect third party insurance in the guise of the slogan “Epsrit De Corps”
The slogan of course won’t pay the claims if there is any damage, stating that from the negligence of law enforcement agents alone by not buying motor insurance policies, insurance industry is loosing over N15 billion of which if this is added to the premium, it would ease the payment of claims.
Stressing on the need for vehicle users to own 3rd party compulsory motor insurance, he also added that third party insurance doesn’t necessarily protects individual car from risk directly, but protects car users from damages incurred on the negligence on the roads probably to other people car or vehicles. This can help to settle such damages if occurs, he said.
Stating further, Theophilus urges the IGP to also consider enforcement of insurance agents to get their licences. He further suggested an operation he titled, ” Operation Show Your Licence” this would reduce drastically the proliferation of fake agents that has flooded in a large quantities insurance space thereby could also aid NAICOM to meet their target of increasing insurance agents to 3 million on or before end of this year.
He further call on Nigeria Police Force, and all Law enforcement agents to join RIFAN in other to have unity of purpose to restoring insured confidence in Insurance Industry.
He highlighted benefits of been a member of RIFAN as thus: Easy access to claims payments; access to unique and enriched insurance covers; professionals counsels amongst others.
He stated that plans are underway to align with relevant underwriters to design funeral Insurance policy as additional membership package to ease funeral expenses more especially in the Southern Nigeria where burial arrangements are taken as top task.
He said the body would organise town hall meetings to sensitize the people at the grassroot for the importance of the insurance policies.
Though membership of RIFAN are in various categories, which includes Silver, Diamond and Gold with their respective benefits package, he posited
He noted that enquiries and membership registration can be done via it’s website: www.rifanonline.org
The RIFAN DG implored Inspector General of Police; arms of law enforcement agents; Commissioner for Insurance; Director General of NIA and all the underwriters to get register with RIFAN to build the insurance industry of Nigerians dream and to restore insured confidence in Insurance Scheme.
