Yemisi Izuora
The motoring public in Nigeria, are in a position to receive accident claims following the hike in third party motor insurance premiums, says the Nigerian Insurers Association (NIA).
The Chairman of the Association, Olusegun Omoshein, said that underwriting firms had been challenged by fund constraints in the past, stressing that contrary to the perception of many Nigerians, the review would help the industry function more effectively.
“When the insurance companies do not settle claims because they do not have money, you have a lot of people hawking fake insurance certificates. But when insurers begin to take responsibility to issue policies, which they will settle, the faking will be reduced,” he said.
Omoshein called on all the industry’s players to fight against fake insurance papers to rewrite the insurance perception.
The NIA chairman also said that the association was planning to host the 43rd yearly general meeting and education conference of the West African Insurance Companies Association (WAICA), a three-day event slated for May 7 to 9, 2023.
The event will have over 140 delegates from five Anglophone countries in West Africa.
