NAICOM, Kaduna Govt. to collaborate on compulsory insurance

Posted by Lucy Nwachukwu | 7 October 2017 | 2,197 times

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The National Insurance Commission (NAICOM) is seeking collaboration with the Kaduna State Government to facilitate the adoption of compulsory insurance policies in the state.

NAICOM Commissioner for Insurance, Mr Mohammed Kari made disclosure when he led a delegation of the commission and insurance correspondents to visit the the state governor on Friday in Kaduna.

“We are visiting you to seek your support and collaboration in the enforcement of the various compulsory insurance plans in your state.

“We believe the collaboration will bring several opportunities that will be of benefit to the state and the insurance industry when it is consummated.

“We have developed some guidelines for the benefit of all state governments to give them the ability to be intermediaries in this collaboration.

“The benefits to be derived include, provision of genuine insurance product to the government and people of the state.

“It will create employment to the citizenry and free government from having to compensate victims from scarce resources in the effect or occurrence of mishaps.

“Most importantly, it will give you opportunity as a government to earn Internally Generated Revenue for the state,’’ he explained.

Kari said that NAICOM was established to regulate and supervise insurance businesses in the country such as licensing of intermediaries and operators in the industry.

He said that the commission coordinated its activities from its head office in Abuja but had other offices in Lagos, Kano, Enugu, Port Harcourt and Ilorin.

He expressed his optimism that a branch of the commission would be established in Kaduna, following the visit of the commissioner to the governor.

“We are considering new offices to ensure a wider coverage and support to consumers and providers of these services,” NAICOM chief said.

The News Agency of Nigeria (NAN) reports that some of the compulsory insurance plans include the third party motor insurance, public building insurance, group life assurance and professional liability insurance, among others.

These classes of insurance have been made compulsory through various laws and the Insurance Act, to protect the interest of a third party.

Governor Nasir El-Rufai expressed the determination of the state to collaborate with the commission to ensure the enforcement of compulsory insurance in the state.

“I assure you it will receive the full attention of this government”, El-Rufai said. (NAN)

Source: News Express

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