KBL steps up awareness on third-party motor insurance
KBL Insurance Limited says it is stepping up efforts by drawing the attention of members of the public to road safety and regulatory compliance with relevant insurance laws and regulations. Speaking in that regards, the Managing Director/CEO of the company, Lawal Mijinyawa, emphasised the company’s commitment to customer convenience and regulatory compliance. He called on […]
KBL Insurance Limited says it is stepping up efforts by drawing the attention of members of the public to road safety and regulatory compliance with relevant insurance laws and regulations.
Speaking in that regards, the Managing Director/CEO of the company, Lawal Mijinyawa, emphasised the company’s commitment to customer convenience and regulatory compliance.
He called on the general public to comply with the regulation, detailing the importance of motor insurance.
Assuring its customers, he said “At KBL Insurance we believe insurance is more than just policies. It is about protecting lives, securing assets, and ensuring peace of mind. Our goal is to simplify third-party motor insurance so that every vehicle owner in Nigeria remains compliant with the law while benefiting from seamless insurance coverage and top-tier customer support.”
The third-party motor insurance is mandatory for all vehicle owners, as it is now enforced by the Nigeria Police Force and the National Insurance Commission (NAICOM).
The policy provides financial protection by covering liabilities for damage or injuries caused to third parties in the event of an accident. Despite its legal requirement, many motorists are unaware of the serious risks of driving without valid insurance.
A defaulter could pay a fine of N250,000, which may include impounding the vehicle along other strict sanctions.