Insurance Certificate is one of the legal documents that motorists must possess before driving any vehicle on any road across the nation.
The Executive Chairman, Ogun State Internal Revenue Service (OGIRS), Mr Olugbenga Olaleye said this while reacting to an unverified online publication concerning issuance of Insurance Certificate by OGIRS in his office at Oke-Mosan, Abeokuta.
He stated clearly that OGIRS or Ogun State Government does not issue Insurance Certificates.
The Chairman pointed out that Section 143 of the Nigeria Road Traffic Act, Motor Vehicles (Third Party Insurance) Act 1953 and Insurance Act 2003 considered it as an offence to use a vehicle on a road or public place, such as car park, market, etc. without insurance coverage, which according to him was part of the transactions involved in new vehicles licensing or renewals, and that by law OGIRS is the authorized Licensing Authority for Ogun State.
He explained that the State Government in collaboration with the Consortium of reputable Insurance Underwriters and Brokers operating in Ogun State launched the E-Third Party Insurance Certificate on 28th October, 2021 to replace the regular, very often counterfeited Third Party Insurance Certificate to address challenges of fake or forged unenforceable Insurance Certificates.
“It is in the interest of all road users/commuters that vehicles which ply our roads carry genuine and enforceable Third Party Insurance at the very least. This is also part of the State Government’s mantra of Building Our Future Together under the social welfare theme for the Motorists,” he said
He noted that, the new initiative was launched and became operational for the benefit of motorists and no amount was added to the cost of issuing the certificate despite all its numerous advantages contrary to the unfounded story adding that vehicle Insurance prices still remain the same.
According to him, the E-Third Party Insurance Policy would put an end to issuance of fake Insurance papers by touts and unregistered Insurance companies.
He pointed out that under the E- Third Party Insurance by the Consortium with Great Nigeria Insurance (GNI) Plc as the Lead Insurer, claims for damages and / or loss of life by the 3rd party are settled without delay.
The Consortium in deserving cases could pay up to One Million Naira (N1,000,000.00) in third party property damage and where loss of life is involved, the claim payable would be negotiated between the Consortium and the affected families.
“You can be rest assured of getting your claim in case of any eventuality if you are on this policy, just walk into any of the offices of the Insurance companies written on the Insurance Certificate, make your report and your claim will be processed without delay
“We are not minded to compel Motorists to obtain any particular Insurance Certificate but have only made a platform available where the mandatory statutory requirement regarding obtaining valid and enforceable Insurance Certificate can be achieved
” We amply publicized this initiative via road shows across the three Senatorial Districts of the State, electronic and print media, before it was launched last year” he said.
The Underwriters in the Consortium are, Great Nigeria Insurance (GNI) Plc which is the Lead Underwriter, NICON Insurance, Leadway Assurance Plc., Zenith General Insurance, Mutual Benefits Assurance, Tangerine General Insurance, LASACO Assurance, Royal Exchange Plc., Anchor Insurance Co. Ltd., Regency Alliance Insurance, International Energy Insurance, and UBA Heirs Insurance.
Others are NEM Insurance, Veritas Kapital Assurance and SUNU Assurance while`the Brokers include FGIL Insurance Brokers (Lead Broker), Optimum Trust, Royal Chambers, Agglos, ECO, JEFETI, First Adequate, Multilated, Naingate, Libra and MICMAD.
