NAICOM, Police launch committee on compulsory insurance enforcement

The National Insurance Commission (NAICOM) and the Nigeria Police Force (NPF) have inaugurated a joint committee on enforcement of compulsory insurance laws.

This is a collaborative move to strengthen insurance compliance in the country, following the announcement by the Inspector General of Police to commence the enforcement of the Third-Party motor vehicle insurance effective 1st February 2025.

The inaugural meeting took place on Thursday, at NAICOM’s headquarters in Abuja.

The Commissioner for Insurance was represented by the Deputy Commissioner for Insurance, Finance and Administration Mr. Ekerete Ola Gam-Ikon at the meeting and the Police Force team was led by DCP Mallum Maina.

The NAICOM said the objectives of the Joint committee include to “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, provide training and capacity-building programmes for personnel of both organizations on compulsory insurances”.

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The Commission added that the scope of work includes, “Evaluating existing challenges in enforcing compulsory insurance and propose solutions; develop protocols for joint enforcement operations of compulsory insurances; recommend policy reforms to strengthen insurance compliance; undertake public sensitization programmes on compulsory insurances, and develop training programmes for personnel of both organizations on compulsory insurances”.

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

To ensure seamless enforcement, and as part of the inauguration, the Deputy Commissioner, Finance & Administration, referred the Committee to some key tools, including the Insurance Act 2003, the Inspector General’s speech on Third-Party Motor Insurance enforcement, list of licensed insurance companies authorized to conduct motor business and “NAICOM USSD *7292# for verification of insurance policy, or visit www.askiid.org and www.niip.ng to verify any motor insurance certificate and to purchase genuine Third-Party Motor insurance, respectively”.

With this joint committee in place, NAICOM and the NPF are poised to make a significant impact on insurance compliance in Nigeria.

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