Nigerian vehicle owners, motorists urged to get only genuine insurance

…as Police enforce third-party motor insurance nationwide

Vehicle owners and motorists across Nigeria have been urged to ensure they obtain only genuine Third-Party Motor Insurance policies, as the Nigeria Police Force (NPF) enforces nationwide compliance.

The NPF commenced a nationwide enforcement of the Third-Party Motor Insurance Policy, in alignment with the provisions of Section 68 of the Insurance Act 2003.

Adebola Surakat, chief marketing officer, AXA Mansard Insurance PLC, said with defaulters facing fines of up to N250,000, the tendency of unscrupulous elements selling fake motor insurance policies to unsuspecting members of the public may be on the rise.

According to her, it is a significant step towards strengthening compliance, ensuring road safety, and protecting motorists and third parties on Nigerian roads.

She advised the insuring public to secure all their insurance policies, including motor insurance from only registered companies and their accredited agents.

She said, “As a brand committed to protecting our customers and the insuring public, we strongly advise motorists to be cautious and obtain their insurance policies only from licensed and trusted insurers”, she said.

“The rise in enforcement may lead to a surge in counterfeit policies, leaving motorists exposed to financial risks.

“As a leader in the industry, we recognise that raising the awareness at this time is the right thing to do because if we allow the public to run into the wrong hands, it will be a setback for the tremendous work that we have been doing to build trust in insurance. When people buy the counterfeit insurance policy, they will not be able to present it to the police nor will they be able to claim with it if any risks manifest. The backlash will be on the insurance sector, not the fraudulent agents. So, we are taking it as a responsibility to create awareness”.

Surakat explained that people can visit either the NAICOM or NIA website for list of registered insurance companies in Nigeria.

“We have even made it simpler at AXA Mansard, any type of motor insurance ranging from Third Party Motor Insurance to Comprehensive Motor Insurance can be purchased straight from our website. You can get your motor insurance certificate in less than five minutes on either our website, mobile app or any of our welcome centres nationwide.

“We have continuously demonstrated reliability through prompt claims payment and seamless customer experience. So, we assure the public of an excellent customer experience throughout the life cycle of the policy”, she added.