Nigeria: Third Party Motor Insurance – Insurers Lose N530 Billion Revenue As Accident Cases By Uninsured Vehicles Soar

Continued negligence of the compulsory third party motor insurance policy among road users in Lagos and other parts of the country despite efforts to curb this by insurers through the Nigeria Insurance Industry Data Base (NIID), is starting to have a multiplier effect on Nigerians and huge revenue loss to insurers, THISDAY investigation has revealed.

While both insurance operators and law enforcement agents continuing their fight against fake motor insurance certificate sellers and its associated problem of road accident without compensation to the third party, the greatest problem currently confronting the duo are increasing number of uninsured motor cycles popularly

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Leadway Assurance Unveils Fast Claims Paying Motor Insurance Policy

Leadway Assurance Company Limited said it has unveiled a new model comprehensive motor insurance policy that enables policy holders process and get their claims in two minutes.

The company said this is an improvement on the existing and conventional comprehensive motor insurance policy that takes a longer period of claims processes and payments.

Leadway also said the latest comprehensive motor policy is fast, convenient, and effortless.

It said the solution affords vehicle owners a fast end-to-end process of buying comprehensive motor insurance all within 120 seconds and provides the guarantees of restitution in the face of risks whilst meeting the

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