Nigeria: Naicom to Penalise Motorists Insurance Cover - AllAfrica.com

Sherifat Giwa

The National Insurance Committee (NAICOM) have warned defaulting automobilists that they would be sanctioned to the melody of N250,000.00 or one twelvemonth imprisonment or both, if they neglect to bring forth necessary written documents while on the highway.

The Committee also advised Motor Insurance policy holders to abstain from obtaining their policies from Motor Licensing business business offices as certifications obtained from such as offices are fakes.

NAICOM Commissioner for Insurance, Mr. Fola Daniel gave the warning at the functionary launching of Motor Accident Victims Insurance Compensation Scheme (MAVICS) and presentation of checks to identified victims of "Hit and tally drivers"/ uninsured vehicles.

According to the NAICOM Commissioner, "driving a vehicle on Nigerian roadstead without echt coverage screen is an business office under the law and is punishable as provided for in the Insurance Act by a punishment of

N250, 000.00 or one twelvemonth imprisonment or both. Motor Insurance policy holders or possible policy holders are also advised to obtain their policies in the business business business offices of registered coverage companies and not in Motor licensing offices.

"Certificates or policies obtained in such as offices are bogus policies and make not pull any compensation in lawsuit of accidents. Moreover, any driver who possesses such as as sham coverage written document will be apprehended by the law enforcement agents and punished accordingly."

He cited that Section 78 of the Insurance Act 2003 supplies that portion of the Security and Insurance

Development Fund established under Section 17 of the National Insurance Act 1997, should be applied for the compensation of guiltless person 3rd political political parties permanently handicapped or killed by uninsured or unidentified vehicles.

He explained that the launching of the MAVICS was to actualize the commissariat of the subdivision of the

Insurance Act by providing compensation to victims of "hit and tally drivers"/ uninsured vehicles and to sensitise Nigerians on the their rights in this regard.

However, he lamented that despite the commissariat of these Acts, some motorists, in rebelliousness refused to obtain this mandatory Third Party Insurance Policy but added that in acknowledgment of this human tendency, the law made proviso for the protection of guiltless 3rd parties who may be involved in route accidents with such uninsured vehicles.

Making check presentations to two victims of accident, Mr. Daniel said that even though the amount was a nominal but the strategy would not be aborted; assuring that it would be a recurring factor.

Two persons, Mrs. Chidi Chukwuemeka and Mrs. Agnes Okpara received the sums of money of N50, 000.00 each as compensations.

Also speaking, Mr. Ad'Obe Obe the National Coordinator of SERVICOM which unit of measurement Oscar is collaborating with NAICOM in securing compensation for route accident victims, disclosed that over 80 percentage of vehicles proprietors were operating without valid motor coverage cover.

He noted that the value and consciousness of coverage is low in Nigeria, adding that if the people were adequately informed they would not be mislead in to obtaining bogus coverage cover.

In a related to development, the National Insurance Committee (NAICOM) have released guidelines for insuring high rise populace edifices under construction.

Mr Fola Daniel, the Commissioner for Insurance announced the development yesterday in Capital Of Nigeria at the launching of Motor Accident Victims Insurance Compensation Scheme (MAVICS).

Daniel explained that the airplane pilot programme for the edifice coverage strategy would get in Abuja, Lagos and other major cities. He said the strategy was in line with the commissariat of subdivisions 64 and 65 of the coverage Act of 2003 which have to make with the coverage of buildings.

'"The airplane pilot programme for the execution of the coverage of edifices impacts edifices of more than than two floorings and public edifices under construction,"he said.

On MAVICS, Daniel explained that the strategy provided protection for uninsured vehicles to the melody of N20,000 and N50,000. He said MAVICS aimed at reducing the charge per unit of accidents on Nigerian roads, and provide for victims of 'hit and run' of uninsured vehicles.

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"This coverage is in improver to the liabilities required to be insured under the motor vehicle coverage Act, 1950. "The 1950 Act do coverage mandatory for liability for decease or bodily hurts caused by automobilists to 3rd party, " he said.

Daniel said despite the commissariat of the act, some automobilists had refused to obtain the mandatory 3rd political political party coverage policy.

He said automobilists without echt coverage screen faced a punishment of N250,000 or one twelvemonth imprisonment or both. "All Nigerians should encompass coverage as it is a strong factor in national development," he said. The high point of the event was the presentation of N50,000 check to each of two dependents of 'hit and run' accident victims by NAICOM. (NAN)