Unified 3rd Party Vehicle Insurance Scheme Launched In Anambra, To Give Over 1, 000 Youths Job

The unified 3^rd party vehicle Insurance Scheme has been launched in Anambra State to fight fake and forged Insurance papers which is a prelude to fake licenses.

The unified 3^rd party vehicle Insurance scheme provides covering for vehicle and motorcycle owners and provides financial compensation for passengers, commuters and other road users.

 The scheme, if properly utilized, 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 Mr. Olisa Aniunoh said, the idea is to conform with International Standards in terms of motor vehicle documentation, stressing that fake insurance policy results to fake licenses in the State.

 According to him, “If we succeed in putting an end to the issuance of fake issurance policy, our people can go into licensing offices to obtain their vehicle particulars and through that, the IGR can be increase”.

He further highlighted that “anybody operating any motor vehicle in the state is charged by law to have a minimum of 3^rd party insurance cover from a legitimate under writer 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 off fake insurance policies”, he said.

The South East Chairman of NAICOM, Mr. Onochie I.C. in a paper entitled: “Danger of Patronizing Quacks or fake insurance agents in Anambra State, said, the 3^rd 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 3 years imprisonment.

The NAICOM Director 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 that it is only NAICOM that has right to issue license to agents.

The President, Association of Registered Insurance Agents of Nigeria (ARIA) on his part, observed that 3^rd party vehicle insurance scheme will create over 1, 000 jobs for Anambrarians, help in a reliable database for all vehicle within the state and enable quick settlement of claims.

There were representatives of the state government , the police and FRSC among other groups as well as Mr Marcel Manafa, Deputy Group
Managing Director , Oliswarren Group .