“CAMCONIA Stresses Education as Key to Successful Third-Party Motor Insurance Compliance”

…….Calls for Urgent Public Education on Third-Party Motor Insurance Enforcement Amid Confusion

CAMCONIA Chairman, Segun Bankole

The recent enforcement of the Third-Party Motor Insurance policy, which took effect on February 1, 2025, has sparked widespread concerns among motorists, law enforcement officers, and industry stakeholders. The Corporate Affairs Committee of the Nigerian Insurers Association (CAMCONIA), through its Chairman, Segun Bankole, has emphasized the urgent need for public education to prevent confusion and ensure smooth implementation.

Reflecting on the events of the past few days, many comprehensive motor insurance policyholders have found themselves in a dilemma. Several motorists have reported instances where law enforcement officers insist that they purchase Third-Party Motor Insurance, despite already having comprehensive coverage. This misunderstanding, according to Bankole, highlights the lack of awareness among both the insuring public and some officers of the Nigerian Police Force (NPF).

For clarity, the Inspector General of Police (IGP) had stated that, at a minimum, every vehicle on Nigerian roads must have a Third-Party Motor Insurance policy. However, this directive does not invalidate comprehensive motor insurance, which offers broader coverage, including third-party liabilities, vehicle damage, theft, and fire incidents. Under Section 68 of the Insurance Act of 2003 and the Third-Party Motor Insurance Act of 1950, comprehensive policies remain legally valid.

This enforcement drive, a collaborative effort between the Nigerian Police Force and the National Insurance Commission (NAICOM), aims to curb uninsured vehicle usage and enhance financial protection for road users. While the initiative is commendable, the enforcement process has revealed critical gaps in awareness and implementation strategies.

CAMCONIA has therefore called for an immediate nationwide sensitization campaign to educate motorists, insurance stakeholders, and law enforcement officers on the policy’s requirements. Bankole urged vehicle owners to embrace the reform, emphasizing that ensuring compliance will not only protect lives and property but also strengthen trust in Nigeria’s insurance system.

As this policy continues to unfold, it is crucial for all parties involved to work together to bridge the knowledge gap, ensuring that enforcement is done with clarity and fairness. The road ahead may be challenging, but with proper education, misunderstandings can be minimized, and the insurance sector can fulfill its role in safeguarding Nigerians.

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