Anambra Implements Third Party Vehicle Insurance Scheme

225

The Willie Obiano led Government has implemented a Unified Third Party Vehicle Insurance Scheme aimed at fighting fake and forged insurance papers in Anambra State.

 

The Unified Third Party Vehicle Insurance Scheme provides cover for vehicle and motorcycle owners and provides financial compensation for passengers, commuters and other road users.

 

It is expected that if properly utilised, it will eliminate incidences of fake third party insurance policies in the state and as well solve a lot of problems associated with road accidents.

 

In an address, the Anambra State Consultant and Group Managing Director, Oliswarren Group, Olisa Aniunoh, said the idea is to conform to international standards in terms of motor vehicle documentation, stressing that fake insurance policy results to fake licenses in the state.

 

Aniunoh added that: “if we succeed in putting an end to the issuance of fake insurance policy, our people can go into licensing offices to obtain their vehicle particulars and through that, the IGR can be increased”.

 

According to him, anybody operating any motor vehicle in the state is charged by law to have a minimum of third party insurance cover from a legitimate underwriter or insurance company so that accident victims can file claims and that is why the National Insurance Company, (NAICOM) and Association of Registered Insurance Agencies of Nigeria (ARIAN) and other regulatory bodies in insurance has indicated interest to assist the state government to fight fake insurance policies”.

 

The South East Chairman of NAICOM, Onochie I.C, in a paper entitled: ‘Danger of Patronising Quacks or Fake Insurance Agents in Anambra State’, said the third party liability insurance will cover injury from accident, death due to motor accident and damage to other motor vehicles or properties following motor accident.

 

He, however, noted that any person, who transacts business as an insurance agent without being duly appointed by NAICOM, commits an offence and is liable, on conviction, to a fee of N100, 000 or to three years imprisonment.

 

He also disclosed that an ex-convict, minor or person who did not acquire certificate of proficiency from Chattered Insurance Institute of Nigeria (NIIN) is not permitted to be an insurance agent, saying it is only NAICOM that has right to issue license to agents.

LEAVE A REPLY

Please enter your comment!
Please enter your name here