IICC moves to sustain enforcement of compulsory insurances policy- uptake

Determined to regain Nigerians’ confidence in insurance policy uptake, Insurance Industry Consultative Council (IICC) has continued to drum the need for enforcement of the various compulsory insurances in Nigeria.

The body, which organised training programme on compulsory insurances for insurers and other stakeholders in Enugu State, said the move was to create more awareness that would help the industry contribute immensely to the Gross Domestic Product of the economy.

The Chairman of the IICC, Eddie Efekoha, who spoke to The Guardian in an interview, said compulsory insurances are those classes of insurance made compulsory by law, with the objective of providing protection to third parties and the general public.

Efekoha, who was represented by the Deputy President of Chartered Insurance Institute of Nigeria, Muftau Oyegunle, noted that despite the fact that these policy covers are compulsory, however, as a result of lack of knowledge, many are neither taken up by concerned parties nor enforced by the relevant agencies or bodies set up for the purpose.

“It is against this backdrop that the IICC has decided to periodically bring all Insurance stakeholders together to sensitize them on their obligations towards the enforcement of the various Compulsory Insurances in Nigeria.

“Earlier in the year we were in Asaba and here in the historic city of Enugu. This train will continue round cities in Nigeria and I promise that we will not relent in our crusade to propagate the gospel of Insurance,” he said.

He lauded the Enugu State Government and various parastatals for their support in putting together the programme and also thanked member bodies of the IICC: National Insurance Commission (NAICOM), CIIN; Nigerian Insurers Association (NIA), Nigerian Council of Registered Insurance Brokers (NCRIB) and the Institute of Loss Adjusters of Nigeria (ILAN) for their contributions to the growth of the IICC and their commitment to the growth of the Insurance Industry in Nigeria.

The Permanent Secretary, Office of the Secretary to the Enugu State Government, Josephine Onyia, lauded the IICC on the initiative and called for more enlightenment programs of a similar nature to be held at various levels of within the state and targeted at stakeholders.

She pointed out that the enlightenment programme had greatly helped to greatly change the notion most of the participants had about insurance, insurance companies and the attitude to compulsory insurances.

The Director-General, CIIN, Richard Borokini, extended the heartfelt gratitude of the Council to the attendees and assured them that the IICC would not rest on its oars to ensure that the gospel of Insurance is spread to all nooks and crannies of the country.