The Commissioner for Insurance/ Chief Executive Officer of the National Insurance Commission, NAICOM Mr. Olorundare Sunday Thomas paid a courtesy visit on the Inspector General of Police, Kayode Egbetokun to explore ways of strengthening collaboration in the areas of enforcement of compulsory insurances.

Compulsory Insurances in Nigeria include; Group Life Insurance, Motor Third Party Insurance, Insurance of Public buildings and building under construction, Employer’s Liability Insurance, Aviation Third Party insurance and Healthcare Professional Indemnity Insurance.

In his remark the IGP appreciated the support of the NAICOM with regards the insurances of the Nigerian Police Force and promised to work closely with the Commission.

Recall, in December 2022, the Federal Executive Council (FEC) approved N13.3 billion group Life assurance scheme for the Nigerian Police Force.

The Nigeria Police Force Insurance, established in May 1992, was set up to cater for the welfare of police personnel who are either retired or have sustained injuries in the line of duty, and relatives of deceased police personnel.

The insurance Act 2003 made six  classes of insurances compulsory.This means that these compulsory insurances must be purchased by Nigerians who operate in sectors  the compulsory insurances are made to cover  against losses.

The compulsory insurances are: Group Life Insurance, Motor Third Party Insurance, Insurance of Public buildings and building under construction, Employer’s Liability Insurance,  Aviation Third Party insurance and Healthcare Professional Indemnity Insurance. These were  made compulsory by the Insurance Act 2003 .