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Ministry Partners NAICOM on Road Insurance for Transport Owners

The National Insurance Commission (NAICOM) and the Federal Ministry of Transportation is to collaborate to ensure adequate insurance for road transport owners and users within Nigeria and ECOWAS member countries.

The commission and the ministry agreed to collaborate when the Minister of State for Transportation, Sen. Gbemisola Saraki, paid a visit to the Commissioner for Insurance, Mr Sunday Thomas, in Abuja on Thursday.

A statement by the commission said the ministry and NAICOM agreed to immediately establish a joint committee to look into different areas of interest to ensure a mutually beneficial relationship.

The statement said Thomas assured the minister of the readiness of NAICOM to collaborate with the ministry of transportation to ensure adequate insurance coverage in the sector.

He said the commission was ensuring order in the insurance sector particularly, in the vexed issue of fake insurances in the road transport sector.

The commissioner disclosed that NAICOM had developed technology for verification of insurance policies.

While speaking, Saraki said the ministry had embarked on a transformation programme of the road transport sector that would have a tremendous impact on the lives and wellbeing of citizens.

She noted that insurance was a critical aspect of transportation hence, the need to collaborate with NAICOM to ensure the success of the programme.

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