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NAICOM, FCT partner on compulsory insurance

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The National Insurance Commission (NAICOM) has partnered with the Federal Capital Territory (FCT) to seek support on enforcement of compulsory insurance.

At a fitness walk aimed at increasing insurance awareness, the NAICOM Board Chairman, Emmanuel Nwosu, said: “with the support of the FCT Ministry, Abuja will lead NAICOM’s renewed awareness campaign, sensitisation and enforcement of compliance.”

Nwosu noted that in all megacities across the world, aside from infrastructural development, some social programmes and policies are enforced for the benefits of the citizens and residents, adding that one of such policies in Nigeria is compulsory insurance.

He said the development of the insurance sector in Nigeria hinges on increased economic activities, improved level of awareness and the acceptability of insurance as a safety net for citizens, businesses and, indeed, public institutions.

On the benefits and advantages of insurance, he said: “As we develop the sector, NAICOM’s partnership with the FCT and indeed the minister will be critical.”

In his remarks, the FCT Minister, Mallam Musa Bello, said he was delighted to receive NAICOM officials and assured the Commission of his full support towards enforcement of compulsory insurances in the FCT as he had a very close relationship with the industry.

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