NAICOM to Enforce Compulsory Insurances among State Government

   

   The National Insurance Commission (NAICOM) has said it will henceforth ensure effective implementation of compulsory insurances nationwide through its ongoing campaign for implementation of the six compulsory insurances among state governments.

The six compulsory insurances are;

•  Group life Insurance in line with the Pencom Act 2004;
•  Employers liability Insurance in line with the Workmen’s Compensation Act 1987; 
• Buildings Under Construction insurance, under section 64 of the Insurance Act 2003; 
• Occupiers liability Insurance as stipulated by section 65 of the Insurance Act 2003; 
• Motor Third party Insurance as contained in section 68 of the Insurance Act 2003 and
• Health care Professional Indemnity Insurance, under section 45 of the NHIS Act 1999.

    The Commissioner for Insurance, Alhaji Mohammed Kari said the Commission has embarked on visitation of the various state governors beginning with the Ogun State government for the purpose of sensitising them on the need to enforce the compulsory insurances in their states through the insurance of the state governments’ assets and encouragement of the citizens of the states to insure their assets.

According to him, “We have taken the campaign to state governments to see how we can enforce compulsory insurances adding doing this at the state level will open up several opportunities that will be to the benefit of the states as well as the insurance industry.”

He said that discussions were going on with some state governments on the need to adopt compulsory insurances, of which Ogun State is part of, adding that the commission will extend such crusade to other states of the federation, to ensure that the motive of the MDRI was achieved.

’’Our motive is to ensure that all the 36 states, including the Federal Capital Territory (FCT) comply with these insurances’’, he stressed.