The National Insurance Commission (NAICOM) has partnered with the Federal Road Safety Corps (FRSC) to implement a third party auto insurance policy nationwide.
The agreement between the commission and the FRSC was reached during a recent visit by Boboye Oyeyemi, corp marshall, and his team to NAICOM headquarters.
Motor vehicle liability insurance is a form of insurance under which the insurance company agrees to indemnify the insured, if he is sued or held legally responsible for injuries or damage caused to a third party.
It covers accidental damage caused by someone’s vehicle to someone else’s vehicle or property.
“The two sides have agreed to develop an effective plan for the application of third party auto insurance,” the commission said.
Last week, NAICOM also welcomed Nasir Sambo, Executive Secretary of the National Health Insurance Scheme (NHIS), and his team.
The committee said the two sides agreed to work closely together on the implementation of professional liability insurance for health workers.
Recently, NAICOM announced its collaboration with the Federal Ministry of Transport to ensure the provision of adequate insurance to owners and users of road transport in Nigeria and ECOWAS member countries.
According to the commission, the ministry and NAICOM agreed to immediately establish a joint committee to examine different areas of interest to ensure a mutually beneficial relationship.