The Commissioner for Insurance/CEO of the National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin, has sought the collaboration of the Nigerian Police Force towards the enforcement of compulsory insurance, especially the 3rd Party Motor Insurance component.

The Commissioner For Insurance sought the collaboration when he paid a courtesy visit to the Inspector General of Police, Kayode Adeolu Egbetokun, at Louis Edet House, Force Headquarters, Abuja on Tuesday, 11th June, 2024.

During the visit, the Commissioner for Insurance requested collaboration to advance the Nigerian insurance sector roadmap. He emphasised that it is unlawful for individuals to drive on the road without valid motor insurance (3rd party), he noted that less than a quarter of the vehicles have valid motor insurance. The CFI stated that the visit aimed to seek NPF’s collaboration to ensure the enforcement of compulsory 3rd party motor insurance, as mandated by law.

Omosehin also stated that in 2023, the ECOWAS Brown card was captured in the upgraded premium for 3rd party motor insurance cover by NAICOM, allowing insured vehicles to travel across the West African sub-region. Additionally, he noted that the benefits attached to the 3rd party insurance had been increased to N3 million.

To further this initiative, the CFI underscored the need for digitisation platforms to authenticate the validity of vehicle insurance. He said that this system is already being implemented by the Lagos State government.

The CFI requested the establishment of a team to collaborate with the Commission in conducting enforcement actions, asserting that the success of this initiative would be a significant achievement for Nigeria.

In response, the IGP assured the CFI of the Nigerian Police Force’s full support in enforcing compulsory 3rd party insurance. He announced that a team, headed by the DIG Operations, would be set up to oversee the enforcement of compulsory insurance.