Connect with us

Business

Vehicle Third-Party Insurance: Police Begins Enforcement February 1

Published

on

Vehicle Third-Party Insurance
What if there is no vehicle insurance?

If you are a vehicle owner and yet to obtain a vehicle third-party insurance, then you run a heavy risk.

This is because beginning February 1, the police would begin enforcement of the directive and are likely to take it easy with those who do not comply.

The inspector-General of police (IGP), Kayode Egbetokun, made this clear today, while receiving in his office, at Force Headquarters, Abuja ,Commissioner for Insurance, National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin, and his team.

The IGP underscored the importance of vehicle third-party insurance stating that February 1, 2025, would mark the commencement date for the enforcement of the relevant laws.

Advertisement

The IGP further stated that Section 68 of the Insurance Act and Section 312 of the 1945 Motor Vehicle (Third Party Insurance) Act mandated all vehicle owners to possess third-party insurance before plying public roads.

He urged Nigerians to comply with the laws, as violations are punishable by imprisonment, fines, or both.

READ ALSO: Automobile Insurance: Which Are The Reliable Policies?

READ ALSO: Insurance Giant Lloyd’s Announces Support For Innovative Technology

Earlier, the NAICOM commissioner had congratulated the IGP on what he described as his significant achievements, particularly the establishment of the Police Insurance Company Limited.

Advertisement

He solicited the support of the police towards ensuring the compliance of motorists with the directive.

The policy he added is one that had benefits for all road users.

Advertisement
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *