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- The identities of security companies with outstanding claims person been made nationalist by the National Insurance Commission
- This is simply a constituent of its determination to support the interests of the insured portion maintaining the lasting of the security assemblage
- The caller medication of the committee has made it wide that it volition not judge immoderate claims that stay unresolved
Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market
The National Insurance Commission (NAICOM) has released the names of security companies that person unresolved claims.
Source: UGC
This is portion of its resoluteness to sphere the security industry's estimation portion safeguarding the interests of the insured people.
This followed a protracted play of warnings to security companies to minimize the fig of unresolved claims successful their books of accounts. NAICOM released a database of astir 1,582 complaints that antithetic security institution clients had brought to its attention.
The database is displayed successful NAICOM’s authoritative website with the rubric “Complaints Against Insurance Companies,”
It contains complaints lodged by some firm and idiosyncratic customers of assorted security firms successful some beingness and non beingness policies.
These claims were not resolved arsenic a effect of disagreements oregon misunderstandings betwixt the customers and the security companies' claims departments. Claims filed betwixt 2021 to 2025 are included successful the collection.
Since the existent Insurance Commissioner, Ayo Olusegun Omosehin, took office, the committee has insisted that it volition not tolerate immoderate unresolved claims.
Meanwhile, Legit.ng earlier reported that the Nigeria Police Force has officially commenced the enforcement of the Mandatory Third-Party Vehicle Insurance.
This is successful enactment with the directive from the Inspector-General of Police, IGP Kayode Adeolu Egbetokun.
A connection shared via X by the Nigerian Police noted that this initiative, effectual from February 1st, 2025, aims to heighten roadworthy information and guarantee that conveyance owners comply with necessary security requirements to safeguard some themselves and others connected the road.
The connection signed by the Force Public Relations Officer, ACP Olumuyiwa Adejobi emphasized the seriousness of this directive and the penalties that volition beryllium imposed connected defaulters, Channels Television reported.
Source: Getty Images
Adejobi said that the enforcement of this regularisation is portion of the police's broader efforts to heighten roadworthy information crossed Nigeria.
He added that by ensuring each conveyance owners comply with the law, the constabulary purpose to trim accidents and summation accountability connected the roads.
NAICOM hikes premium rates for centrifugal security
Legit.ng had reported that the Nigerian government, via the National Insurance Commission (NAICOM) has hiked the premium rate for conveyance security successful Nigeria from January 1, 2023.
In the caller rate, backstage vehicles, which paid an N5,000 premium for the N1 cardinal Third-Party Damage (TPPD) limit, are required to wage an N15,000 premium for N3 million. In contrast, owners of bully vehicles are to wage N20 cardinal for N5 million, and unit buses indispensable wage N20,000 for N3 million.
According to BusinessDay, the caller directive is contained successful a circular issued connected December 22, 2022, by NAICOM and sent to each security firms.
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Source: Legit.ng
