NCRIB president educates special marshals on insurance
The President of Nigerian Council of Registered Insurance Brokers (NCRIB), Dr Bola Onigbogi, has called on special marshals to see insurance as a premium venture that provides support and succour to quickly help an insured to recover any time misfortune strikes.
Dr Onigbogi said that one cannot predict when things will go wrong in life but having the right insurance cover in place means there is always a plan to recover very quickly when there is any incident.
Onigbogi made this known while delivering a lecture on motor Insurance at the training of the newly enlisted Special Marshals Corps in Abuja.
She took time to explain to the trainees that motor insurance is an insurance policy that covers the insured in case of financial losses resulting from an accident or other damages sustained by the insured vehicle, adding that the traditional role of insurance is to provide succour when misfortune strikes and the whole idea of insurance is to place the insured in the position he occupied immediately before the loss occurred.
The NCRIB President stressed that motor insurance is one of the compulsory insurances which every person must have or face penalties for default.
She added that third party motor insurance is the minimum and the cheapest cover that owners of motor vehicles must have before plying the roads, stating that it covers liability for death, bodily injury and property damage of the third party arising from the use of the vehicle.
According to her, Section 68 of the Insurance Act 2003 extends the liability to cover damage to third party property to the tune of one million naira.
She decried how people still put their cars on the roads in Nigeria without Insurance even as cheap as the third party Insurance is.
Onigbogi encouraged the newly enlisted Special Marshals to go through a registered insurance broker to buy their Insurance policies in order to get the right advice from their brokers as well as the full benefits.
The NCRIB boss told them that Nigeria has about 500 registered insurance brokers who are intermediary between the insurance companies and insuring public.
She advised the Marshals and the general public to check on ncrib.net to get more information about Insurance brokers and also added that National Insurance Commission, NAICOM is open to the public for more enquiries.
The President appealed to the Special Marshals not to forget what they have learned from the training adding that they should use it and educate the public when they are carrying out their duties so that they can also know the benefits of the third-party motor insurance.