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Body tackles fake marine insurance

23 December 2013, 17:36

Abuja - The Nigerian Insurers Association (NIA) said it was deploying the Nigerian Insurance Industry Database (NIID) in an effort to curb the increasing cases of fake marine insurance.

According to the association, the NIID marine insurance module would be ready by the end of the second quarter of next year.

Awareness programmes on the database would commence immediately.

NIID is an electronic platform established by the NIA to serve as a vehicle for easy identification of genuine insurance documents by relevant authorised persons, monitor insurance transactions and reduce fraud in insurance transactions.

It is currently being deployed to capture all the third party motor insurance transactions in the country with a view to extending it to other types of compulsory insurances in due course.

Sunday Thomas, the director-general of the association, said the NIID marine insurance module was designed to eliminate fake marine insurance certificates in circulation across the country.

“Marine module should be ready before the second quarter. We have engaged a programmer resuming January 1, 2014. If they are able to conclude work on the module, the banks would not have to reach individual companies to get details of their marine insurance business.

"Rather, the banks would link up to the NIID marine insurance module to get such details. When it is ready, we will increase awareness on this,” Thomas said.

The NIA executive applauded the NIID motor insurance module that has been in existence in the last three years, saying the success achieved this far has spurred the association to move on to the second phase of the programme, which is marine insurance module.

Throwing more light on the database, Thomas said, “NIID is not an alternative to motor insurance certificate because the law requires that drivers must carry your certificate. What the NIID provides is a verification that actually, what you are holding is what the law requires/ because the law requires that it is only registered insurance companies in Nigeria who can issue you with a valid motor insurance certificate.”

The association has also assured stakeholders that the database would facilitate easy collation and dissemination of statistical date of all insurance companies and serve as a vehicle for easy identification of genuine insurance documents by relevant authorized persons.

– CAJ News




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