NAICOM to begin enforcement of compulsory insurances in FCT

The National Insurance Commission (NAICOM) will soon commence the enforcement of compulsory insurance in the Federal Capital Territory (FCT).

The management of NAICOM said, “the enforcement exercise within the FCT is expected to begin in the next few weeks”.

In preparation for the exercise, the NAICOM on Thursday organised a sensitisation workshop for the Joint Taskforce on Enforcement of Compulsory Insurances in the FCT as a pilot scheme.

The workshop aimed at sensitising members of the Taskforce on the requirements of the law with respect to the compulsory insurance as well as the enforcement modalities to be adopted by the committee.

The Taskforce comprises the Nigeria Police Force, the Federal Road Safety Corps, the Federal Fire Service, FCT Fire Service, VIO, the Office of the Attorney General of the Federation and the Federal Capital Territory Administration.

Compulsory insurances are those insurances that are made mandatory by law. In Nigeria, they include Motor Third Party Insurance meant to ensure the safety of Third Party road users, and the government has made it compulsory for citizens and residents to have motor insurance before plying on public roads.

Others are Employer’s liability/ workmen’s compensation insurance, Group life assurance, Health care professional indemnity insurance, Occupiers liability insurance or insurance of public buildings, etc.

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NAICOM to begin enforcement of compulsory insurances in FCT