The trio of National Insurance Commission (NAICOM), Federal Road Safety Corps (FRSC) and National Health Insurance Authority (NHIA) have agreed to strengthen their efforts in improving safety and emergency response on Nigerian roads through the Motor Third Party Insurance Scheme.
This development followed a courtesy visit by the FRSC Corps Marshall, Shehu Muhammed to the Commissioner for Insurance, Mr. Olusegun Omosehin on Thursday in Abuja.

During the meeting, the Corps Marshal congratulated NAICOM on the signing of the Nigerian Insurance Industry Reform Act (NIIRA) 2025 and acknowledged the Commission’s efforts in driving reforms in the industry.
He emphasised the need for enhanced data exchange between NAICOM and FRSC to develop a robust system for quick response to road accidents and compensation.
The Corps Marshal also stressed the importance of digitising the process for prompt emergency response and eliminating fake motor insurance policies.

Responding, the Commissioner for Insurance thanked the Corps Marshal for the visit and commended his efforts in upgrading the licensing system.
He also highlighted that NIIRA 2025 has strengthened the compulsory third-party motor insurance policy and established a fund for compensating road accident victims, which will be administered by a committee that includes FRSC representation.

The representative of the National Health Insurance Authority (NHIA), Mr. Ajodi Nuhu Nasir expressed satisfaction at the collaborative efforts among the agencies, noting that this synergy will culminate in a robust system that not only safeguards our roads, but also ensures prompt and quality medical treatment for accident victims, thereby reducing the morbidity and mortality associated with road crashes.

The meeting culminated in the following agreements:

1. Data Sharing Integration: NAICOM and FRSC will integrate their data sharing systems to enable seamless information sharing.
2. Joint Awareness Campaign: The agencies will develop a joint awareness campaign strategy to educate the public on insurance benefits and road safety.
3. Enforcement Committee: A joint committee will be established to collaborate on enforcement of proper insurance coverage and address cases of fake insurance policies.
4. Inclusion of Insurance Requirements: FRSC will include insurance requirements, especially for valid third-party motor insurance, in its awareness and enforcement efforts.

The collaboration aims to promote road safety, ensure prompt treatment for accident victims, and protect the interests of motorists and other road users. A date will be announced for the inauguration of the joint committee.

Heirs Insurance Group has announced the winners of the 4th edition of the Heirs Insurance Essay Championship, a nationwide competition promoting financial literacy and academic excellence among secondary school students and educators.
The grand finale, held in Abuja recently, brought together students, parents, and academic leaders for a celebration of knowledge and creativity. This year’s edition, which attracted over 5,000 entries from junior secondary school students nationwide, was anchored on the topic “The Role of Insurance in Keeping Families Safe and Secure”.
After a rigorous evaluation process by a panel of academic professionals, independently verified by Deloitte & Touche, 13-year-old Rhema-Love Abraham of Precepts Learning Field, Lagos, emerged as the overall winner, earning a N5 million scholarship and a N1 million grant for her school.
Bernice Michael of S-TEE High School, Lagos, claimed the second-place position, winning a N2 million scholarship, while Afopefoluwa Tofio-Jacobs of D-IVY College, Ogun State, took third place, receiving a N1 million scholarship.
This year, Heirs Insurance introduced the inaugural Teachers Prize, to honour teachers promoting insurance awareness within their schools and communities. This initiative was created to democratise access to insurance literacy, working collaboratively with teachers and educators.
Mr. Okpe James Chidi, a teacher at Urban Secondary School, Umuna Orlu, Imo State, emerged as the winner of the Teachers’ Insurance Awareness Prize, with a personal award of N1 million cash prize, and a N500,000 grant for his school. His project, which deepened students’ understanding of financial literacy and insurance, was praised for its innovation, reach, and measurable impact.
Speaking at the ceremony, Niyi Onifade, Sector Head, Heirs Insurance Group, commended all the participants for their creativity and drive, emphasising the Group’s commitment to nurturing future leaders through education.
He said, “We are proud of every student and teacher who participated in this year’s Essay Championship. Their creativity, curiosity, and dedication reflect the future we envision for our nation; one built on knowledge, innovation, and resilience. At Heirs Insurance Group, we believe financial literacy is a powerful tool for empowerment and transformation”.
The Heirs Insurance Essay Championship is a flagship Corporate Social Responsibility (CSR) initiative of Heirs Insurance Group, created to build awareness of insurance literacy and critical thinking among young Nigerians. The introduction of the Teachers’ Insurance Awareness Prize further demonstrates the Group’s commitment to advancing insurance education and promoting financial inclusion at every level of society.

Leadway Assurance won two awards at the 2025 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, as the Insurance Company of the Year and Excellence in Claims Leadership & Digital Innovation. This is the second consecutive year the company would be emerging as the insurance company of the year.
These recognitions reaffirm Leadway Assurance’s position as a trusted insurer, underpinned by 55 years of legacy of integrity, innovation, and customer focus.
In 2024 alone, the company paid out N117 billion in claims. Each payout reflects restored livelihoods and renewed confidence for families and businesses across the country.
Commenting on the milestone, Gboyega Lesi, Managing Director of Leadway Assurance, said: “These double honours are a worthy recognition of the dedication of our team and our commitment to serving customers better every day. The recognition motivates us to continue building systems and teams that ensure no one faces uncertainty alone. Each innovation and every claim fulfilled reaffirms our promise to provide protection. For Leadway Assurance, these accolades celebrate our sense of purpose, reliability, and the lasting strength of an indigenous brand built to endure.
“Winning the Insurance Company of the Year for the second consecutive year and adding Excellence in Claims Leadership and Digital Innovation awards reflects our consistent devotion to excellence, consistency, and innovation in delivering value. We thank the leadership of BusinessDay for celebrating our relentless pursuit of efficiency, transparency, and empathy in every customer interaction; from simplifying claims processes to leveraging technology for faster, smarter access to insurance policies, as we continue to redefine trust and innovation in the insurance industry.”
Leadway Assurance’s transformation of claims management has set a new benchmark in the insurance industry. Leveraging cutting-edge technology, the company has digitised its claims processes, enabling customers to file, track, and finalise claims seamlessly. This digital shift has significantly reduced turnaround times and elevated customer experience nationwide.