NIA To Upload Marine Insurance Policies On Database

The Nigerian Insurers Association (NIA) says the association is ready to start uploading Marine Insurance policies on the Nigerian Insurance Industry Database (NIID).
The NIA Director-General, Mr Olorundare Thomas, told newsmen in Lagos that the association was happy with the progress of the motor module.
Thomas said the decision to start the first and second phase of the database with Motor and Marine policies was to end the era of ‘fake’ insurance certificates in the two areas.
“The industry records high rate of fake insurance certificates on Motor and Marine policies.
“The motor module is running and already adopted by the insuring public in the second year into the operation of NIID.
“As at May 2013, over 1.5 million vehicle records with policies in force are on the database,” he said.
He said the motor module had become an indispensable tool for on-the-spot verification of genuine motor insurance documents.
According to him, a key aspect of the NIID project is the deployment of Mobile Devices for Law Enforcement Agents to verify insurance certificates presented by Motorists on the roads.
He said that the application was always available and works with all networks in Nigeria.
The director-general said the verification device was being deployed in some states which would go a long way in curbing fake motor insurance documents in the area.
He said that discussions were ongoing with other states of the federation for the deployment and enforcement of the devices.
Thomas said that the marine module would form the second phase of the database project.
Reports say that the minimum price of a genuine third party motor insurance policy was N5, 000 as against N2, 000 charges by fake operators.