NIA Intensifies Fight Against Fake Third Party Insurance, Enforcement

By LOVETH AZODO, Lagos

The Nigeria Insurers Association has beef up effort to curb fake third party motor insurance and the enforcement of compulsory building under construction insurances.

The Chairman of the Association Mr Ganiyu Musa revealed that the association will ensure that all insured vehicle in Lagos state has a genuine certificate through Automatic Number Plate Recognition (ANPR) device of VIS through Nigerian Insurance Industry Database (NIID) Verification Platform.

Speaking at a press conference Tuesday in Lagos he stated that Nigerian Insurers Association (NIA) is in partnership with Lagos State Building Control Agency (LASBCA) on enforcement, verification, and validation of genuine compulsory building under construction insurances

He said “The Association is in discussion with LASBCA with a view to using the Nigerian Insurance Industry Database (NIID) Verification Platform for enforcement, verification, and validation of genuine compulsory Buildings Under Construction Insurances.”

He iterated that the insurances were made mandatory by Law through Insurance Act 2003 (SECTION 64), and Lagos State Urban and Regional Planning and Development (Amendment) Law 2019 (Lagos State Urban and Regional Planning and Development Law, CAP U2 Lagos State Building Control Agency Regulations, 2019)

On third party Insurance He said “The Association is working with Lagos State government in the enforcement and validation of genuine compulsory third Party insurance made mandatory by Law through Automatic Number Plate Recognition (ANPR) device of VIS through Nigerian Insurance Industry Database (NIID) Verification Platform.”

Musa also revealed that the Association are in discussion with NAICOM, Nigerian Shippers Council, Project IT Vendor-BrandOne and all other stakeholders in the maritime value chain including Shippers/ Importer, Clearing Agents, Track Owners, Guild of Marine Surveyors, PRAN and Tracking Companies on provision of cover for containers.

“This will be a risk management substitute for container deposits being made by the importer to the shipping companies thereby eliminating capital flight from the country,” he said.