NAICOM Strengthens Partnership With Police To Enforce Compulsory Insurances

By Sola Alabadan

The Commissioner for Insurance/ Chief Executive Officer of the National Insurance Commission (NAICOM) Mr. Olorundare Sunday paid a courtesy visit on the Inspector General of Police, Kayode Egbetokun in Abuja on Tuesday, to explore ways of strengthening collaboration in the areas of enforcement of compulsory insurances.
Although 16 insurance products are directly and indirectly made compulsory by the relevant laws in Nigeria, NAICOM has been striving to enforce these laws, especially as the industry is capable of generating substantial premium income therefrom.
Some of the compulsory insurance covers are: Third-Party Motor Insurance, Occupiers liability insurance or insurance of public buildings, insurance of buildings under construction, Employer’s liability/ workmen’s compensation insurance, Group life assurance and Health care professional indemnity insurance.
In his remark, the IGP appreciated the support of the NAICOM with regards to the insurances of the Nigerian Police Force and promised to work closely with the Commission.