By LOVETH AZODO, Lagos
In a bid to deepen public understanding and curb the widespread use of fake third-party motor insurance policies, Nigerian insurers have launched a nationwide awareness campaign tagged “Third-Party Motor Insurance Works: Get It, Use It.”
The campaign, which kicked off today in Lagos, is spearheaded by the Insurers’ Committee through its Communication and Stakeholders Management Sub-committee.
Speaking at a press briefing, the sub-committee head and Managing Director of Rex Insurance Limited, Mrs. Ebelechukwu Nwachukwu, said the three-week initiative would complement ongoing enforcement efforts by the Nigeria Police and drive mass sensitisation across the country.
“The aim is to educate motorists on the importance of buying authentic third-party insurance, where to get them, and how to verify their validity,” she said.
“The public should know that third-party policies can be verified instantly and are legally accepted across all ECOWAS countries. You don’t need to buy another policy once you cross borders.”
Mrs. Nwachukwu decried the rising number of motorists relying on fake insurance documents, often because they are cheaper than the N15,000 standard policy.
She noted that the Nigerian Insurers Association (NIA) has provided a central platform listing all licensed operators to guide buyers toward genuine sources.
In addition, she urged policyholders with legitimate claims to report through channels made available by the National Insurance Commission (NAICOM), the NIA, and the Nigerian Council of Registered Insurance Brokers (NCRIB), assuring that all verified complaints would be promptly addressed.
Highlighting the link between insurance uptake and financial inclusion, Nwachukwu stressed that increased compliance with third-party insurance requirements could significantly boost the nation’s insurance penetration rate.
“When you consider the number of registered vehicles in Nigeria, the percentage with valid insurance is still below 30%. There’s a lot of ground to cover,” she added.
The awareness campaign will run across multiple platforms, including radio, print, digital, and outdoor media, with activation points planned for Lagos and Port Harcourt in the coming weeks.
For Records7 days ago