NAICOM seeks DRTS support to address fake insurance policies

Director of DRTS on the Abuja enhanced third- party

Motor Insurance, which HE National Insurance became effective, on Commission January 2, 2023 increasing ( NAICOM) has called on its premium from N5,000 the Directorate of Road to N15,000 and also its Transport Services ( DRTS) benefits from N1, 000, to forge a common front 000 to N3, 000, 000 covin the fight against fake ers respectively for the Third- Party Motor protection of road users Insurance in Abuja. Responding, the

The commission at a Director, DRTS, Dr. Bello strategic meeting with Abdul- Lateef, noted, "A lot DRTS in Abuja, at the of individuals renewing weekend, noted that their vehicle particulars there was a need to were not getting value for ad d ress instances where the insurance premium people circum vent the being paid as they did not system by paying lower validate the insurance premiums to some policies after purchase underwriting firms in the even though they might sector than expected. have paid N15, 000;

Speaking at the meeting, whereas the cover they the Commissioner for were given cost N4, 000 Insurance, Sunday because they may have Thomas, said the effective engaged unauthorised collaboration between persons to help process the two agencies would their request" help reduce the inciAbdul- Lateef further dences of Third- party mentioned that his motor insurance irregudepartment is already larities with the enhanceleveraging technology to ment of active policing of curb such issues and that the sector. 98 per cent of its processHe ga ve the assurance es are now automated. that the collaboration He said in addition, that will equally ensure that individuals could coman adequate insurance mence the process of management system is their vehicle particulars put in place. renewal from the comfort Thomas used the occaof their homes. sion to inform the

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