80% of Nigerian cars without third-party liability insurance
Only 2.53 million or 20% of the 12 million registered vehicles in Nigeria have third-party liability insurance, the Nigerian Insurers Association (NIA) warned. According to NIA, 9.47 million vehicles are either without insurance cover or have fake insurance. All genuine insurance policies are being registered with the Nigerian Insurance Industry Database. The measures that the association is undertaking to resolve this include encouraging Nigerians to check whether they have genuine policies, launching an insurance squad of 33 persons who will inform people in Lagos State about this issue, and putting up information through different platforms, such as billboard advertorials, media and digital. NIA’s platform will also provide the option of buying third-party liability from various insurers as well as a space for claims and complaints.