The National Insurance Commission (NAICOM) is partnering with the Federal Road Safety Corps (FRSC) to enhance emergency response and compensation for road accident victims under the compulsory motor third-party insurance scheme.
Commissioner for Insurance, Olusegun Omosehin, said the collaboration — which also includes the National Health Insurance Authority (NHIA) — aims to strengthen enforcement, improve safety, and ensure seamless claims processing.
He noted that the newly enacted Nigerian Insurance Industry Reform Act (NIIRA 2025) enhances the compulsory third-party policy and establishes a dedicated fund to support compensation payouts. According to him, the compensation scheme will be managed by a committee with FRSC representation for better coordination.
FRSC Corps Marshal, Shehu Muhammed, who visited NAICOM in Abuja, called for improved data sharing between both agencies. He also emphasised the need for full digitisation to speed up emergency response and curb fake insurance practices.
