Lagos, Jan. 20, 2025 (Naija247news) – The Nigerian Insurers Association (NIA) has praised the Nigerian Police Force (NPF) for its recent announcement on the nationwide enforcement of the Third-Party Motor Insurance policy, effective February 1. The NIA described the move as a game-changer, aimed at bolstering public trust in insurance, reducing uninsured risks, and stimulating economic activity.
Thank you for reading this post, don't forget to subscribe!Mr. Kunle Ahmed, Chairman of the NIA, called the decision timely and aligned with the Insurance Act of 2003. He emphasized that the enforcement would enhance compliance, improve road safety, and protect motorists and others on Nigerian roads. The policy provides financial protection for victims of road accidents and compensation for property damage and medical care for injured third parties, he added.
Ahmed further highlighted that the enforcement would help eliminate fake insurance policies and increase the number of genuinely insured vehicles. He assured the public that NIA members are prepared to offer seamless access to third-party motor insurance through authorized channels, improving customer experiences.
The NIA has also partnered with the National Insurance Commission (NAICOM) to enhance public awareness about the benefits of genuine motor insurance policies, urging vehicle owners to comply and secure coverage.
