Leadway Assurance Highlights Benefits Of Mandatory Insurance Policy, Calls For Compliance

As the nationwide enforcement of compulsory third-party motor insurance is now in effect, Mrs. Kikelomo Fischer, Chief Risk Officer at Leadway Group, has highlighted the benefits of the mandatory insurance policy just as she stressed the critical importance of compliance with the directive as announced by the Inspector General of Police, Mr. Kayode Egbetokun.

This enforcement, a collaboration between the National Insurance Commission (NAICOM) and the Nigeria Police Force (NPF), ensures compliance with Section 68 of the Insurance Act of 2003, which mandates valid third-party insurance for vehicles.

Mrs. Fischer highlighted the policy as an essential protection for all road users, including pedestrians, by fostering accountability, enhancing road safety, and providing financial coverage for accidents. She expressed concern over the low compliance rate, with only 30% of vehicle owners currently insured, and urged immediate action by vehicle owners.

“This enforcement promotes responsibility and mutual protection, creating safer roads and a more secure society for Nigerians,” Mrs. Fischer concluded, urging vehicle owners to comply as a critical step toward safer and more accountable road usage.

She stated that Leadway Assurance’s streamlined process, enabling quick insurance purchases within two minutes via the website www.auto.leadway.com or WhatsApp (08129997044).

She reiterated that compliance with third-party motor insurance is a shared responsibility that benefits everyone and urged vehicle owners to embrace this initiative not as a burden but as a necessary step toward ensuring safer roads and a more accountable society.

The Chief Risk Officer at Leadway Group said this is a critical juncture in Nigeria’s journey toward safer and more responsible road usage, underscoring the importance of cooperation and mutual support in achieving a common good.

She urged  all stakeholders, including government agencies, private organisations, and the general public, to collaborate in raising awareness about the importance of compliance. This is a defining moment for Nigeria’s road safety journey, which demands working together to create a culture of accountability and ensure that Nigerian roads are safer for all.

Leadway Assurance is one of Nigeria’s foremost insurance service companies, offering diverse insurance products and services. With a strong commitment to customer satisfaction and innovation, Leadway Assurance continues to set the benchmark in the Nigerian insurance industry.