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Over 70% of Nigerian cars uninsured

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Magazine Issue: 
Insurance in Africa, a reshape dynamic [3]
Magazine date: 
Mar 2022

car insuranceThe Nigerian Insurance Industry Database (NIID) reports that only 28.3% of Nigerian cars are covered by motor insurance.

Two situations arise for the remaining 71.7% of car:

  • Vehicle owners have no motor insurance policy
  • The insured are covered by fake insurance contracts

The Nigerian Insurance Association (NIA) is jointly working with the government to implement a genuine mandatory third party liability coverage and a system to monitor the authenticity of insurance certificates.

Read also | Insurance market in Nigeria [4]

Mon, 07/03/2022 - 16:33

Source URL: https://www.atlas-mag.net/en/article/over-70-of-nigerian-cars-uninsured

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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-189-march-2022
[4] https://www.atlas-mag.net/en/article/the-insurance-market-in-nigeria