NAICOM, police unveil committee to enforce insurance compliance

The National Insurance Commission and the Nigeria Police Force have unveiled a joint committee on enforcement of compulsory insurance laws.

The joint committee was unveiled at NAICOM’s headquarters in Abuja on Thursday, a statement from the regulator said.

It revealed that the move is aimed at strengthening insurance compliance in the country and the announcement by the Inspector General of Police on the enforcement of motor vehicle insurance effective 1st February 2024.

At the inaugural meeting of the committee, the Commissioner for Insurance, Olusegun Omosehin, was represented by the Deputy Commissioner for Insurance, Finance, and Administration, Mr. Ekerete Ola Gam-Ikon, and the Police Force team was led by DCP Mallum Maina.

The statement indicated the objectives of the Joint Committee to include “Develop and implement strategies for enforcing compulsory insurance in Nigeria. Ensure compliance with compulsory insurance policies as mandated by the Insurance Act and other related laws. Foster synergy and collaboration between NAICOM and NPF and provide training and capacity-building programs for personnel of both organizations on compulsory insurances.”

The scope of their work will be to evaluate existing challenges in enforcing compulsory insurance and propose solutions.

“Develop protocols for joint enforcement operations of compulsory insurance. Recommend policy reforms to strengthen insurance compliance. Undertake public sensitization programs on compulsory insurance and develop training programs for personnel of both organizations on compulsory insurance.

“The joint committee’s inauguration marks a significant step towards ensuring that all vehicle owners comply with compulsory insurance laws. This collaboration aims to promote a safer and more secure environment for all road users,” the statement added.

Earlier in the month, the Inspector-General of Police, Mr Kayode Egbetokun, announced that starting February 1, 2025, the Nigeria Police Force will intensify efforts to enforce compliance with third-party motor insurance laws.

This move followed discussions with the Commissioner for Insurance and of NAICOM on the critical role of insurance in road safety and the legal consequences of non-compliance.