Motorists have called on the National Insurance Commission (NAICOM) and the Nigerian Police to extend the same enforcement measures and seriousness applied to third-party motor insurance implementation to the settlement of claims by insurance companies.
They believe that such enforcement, in collaboration with the Nigerian Police Force (NPF), would encourage more people to embrace insurance.
Victor Ukong, an Abuja-based motorist, emphasized the urgency of devising new strategies to ensure insurance companies pay claims, especially those related to third-party motor insurance.
“NAICOM must brace up the trail; they should not allow this to be business as usual. They should penalize any insurance company that refuses to pay claims for third-party motor insurance and involve the Police in doing this,” Ukong stated.
Major drawback
Mrs. Lydia Abe, a civil servant and motorist, noted that inadequate settlement of claims by insurance companies has been a major drawback for her in considering insurance.
She called for NAICOM to tighten its regulatory tools to ensure that all insurance companies settle claims arising from third-party motor insurance, boosting trust and encouraging more people to patronize insurance.
- Glory Eke, a business owner and motorist, appealed to NAICOM and insurance companies to increase sensitization efforts on third-party motor insurance policies for better understanding and patronage.
The Commissioner for Insurance, NAICOM, Olusegun Omosehin, urged Nigerians to recognize the benefits of third-party insurance. Omosehin assured that NAICOM is committed to ensuring that claims are duly paid.
“We want to appeal to Nigerians to be very positive about the benefits and be rest assured that NAICOM is here to enforce claims payment. As the Commissioner for Insurance, I am giving my word that the insurance sector is up and doing and will be ready to meet all expectations,” Omosehin said.
He also mentioned that a dedicated complaints desk had been set up to handle grievances and address complaints from motorists regarding insurance claims.
What you should know
On Thursday, NAICOM and the Federal Road Safety Corps (FRSC) formed a partnership to ensure compliance with mandatory third-party vehicle insurance in Nigeria.
- This collaboration aims to enhance road safety and protect motorists and third parties by enforcing existing insurance regulations.
- At a joint press conference held in Abuja, Olusegun Omosehin highlighted that extensive discussions had been held on how to enhance road safety measures and enforce compliance with compulsory third-party motor insurance policies.
- He emphasized that the partnership underscores their commitment to ensuring safer roads through regulatory oversight and enforcement capabilities.
The Nigeria Police commenced the nationwide enforcement of the third-party motor insurance policy on February 1, 2025, under the directive of Inspector General of Police, Kayode Egbetokun.
