Enforcement Of Compulsory Insurances: NAICOM Organizes Workshop For Joint Taskforce

Deputy Director and Head, Corporate Communications & Market Development Department, National Insurance Commission (NAICOM), Rasaaq Salami, addressing participants during the workshop.

In preparation  for the commencement of the actual enforcement of the Compulsory Insurances, the National Insurance Commission (NAICOM) has organised sensitisation workshop for the Joint Taskforce responsible for the exercise in Abuja recently.

According to NAICOM, the  pilot scheme of the exercise which will start in the next few weeks will begin in the Federal Capital Territory (FCT).

NAICOM said the workshop was aimed at sensitising members of the Taskforce on the requirements of the law with respect to the compulsory insurances, as well as the enforcement modalities to be adopted by the taskforce committee.

The Taskforce comprises the Nigeria Police Force, the Federal Road Safety Corp, the Federal Fire Service, FCT Fire Service, VIO, the Office of the Attorney General of the Federation and the Federal Capital Territory Administration.

Compulsory insurances are those classes of insurance made compulsory by law, frequently with the objective of providing protection to third parties and the general public.

The compulsory insurance includes Motor Third-party Insurance of section 68 of the Insurance Act 2003; Buildings under construction of section 64 of the Insurance Act 2003; Occupiers liability insurance of section 65 of the Insurance Act 2003; Group life insurance in line with the Pension Reform Act 2004 and Health Care Professional Indemnity Insurance-under section 45 of the NHIS Act 1999.

NAICOM has been strategising to ensure that the insuring public comply with these provisions of the law concerning compulsory insurances, including partnering with the state governments, among others.