The Nationwide Insurance coverage Fee (NAICOM) and insurance coverage firms have been urged to accentuate efforts to enhance public schooling and notion of car insurance coverage.
Dr. Sam Onyeka, an insurance coverage knowledgeable, emphasised the significance of steady sensitization on car insurance coverage, significantly third-party motor insurance coverage.
He believes that such initiatives would higher inform the general public in regards to the relevance of the coverage.
Onyeka, the Lead Director of Clear Safety Restricted (TPL)/GTE, an insurance coverage non-governmental group (NGO), acknowledged that bettering public understanding might improve insurance coverage penetration and subscription charges. He added that whereas insurance coverage sensitization is a collective accountability, NAICOM and insurance coverage firms have pivotal roles to play.
He additionally referred to as on public-spirited people to hitch palms with NAICOM and insurance coverage firms of their sensitization efforts.
“Sure, insurance coverage sensitization is everyone’s accountability. NAICOM and the insurance coverage trade also needs to be a part of me and public-spirited people to do it. Like I stated, I’m not NAICOM, I’m not an insurance coverage firm, however I’ve been doing insurance coverage packages over time. So anybody who’s might be concerned, however primarily it’s between NAICOM and insurance coverage firms,” Onyeka acknowledged.
NAICOM, in collaboration with the United Nations Improvement Programme (UNDP) and the Nigerian Insurers Affiliation (NIA), has launched an insurance coverage schooling marketing campaign in markets.
The initiative, titled “Insurance coverage Literacy and Shopper Safety Marketing campaign: A UNDP (Nigeria) Mission 2025,” goals to teach merchants and the general public on the significance of insurance coverage.
The marketing campaign seeks to boost {financial} resilience and promote inclusive insurance coverage as a significant device for lowering poverty and constructing {financial} inclusion.
NAICOM acknowledged that merchants had been educated on numerous kinds of insurance coverage, together with fireplace and particular perils insurance coverage, items in transit insurance coverage, accident insurance coverage, and life insurance coverage.
He emphasised that the partnership underscores their dedication to making sure safer roads via regulatory oversight and enforcement capabilities.
The Nigeria Police commenced the nationwide enforcement of the third-party motor insurance coverage coverage on February 1, 2025, underneath the directive of Inspector General of Police, Kayode Egbetokun.
