NAICOM, NCAA Establish Joint Committee to Boost Aviation Insurance in Nigeria
The National Insurance Commission (NAICOM) and the Nigerian Civil Aviation Authority (NCAA) have inaugurated a joint committee on aviation-related matters.
The ceremony took place recently at the NAICOM office in Abuja, signifying the dawn of a collaborative era between the two agencies, a groundbreaking step to enhance insurance growth in Nigeria’s aviation sector.
The Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr. Olusegun Ayo Omosehin, was represented by the Deputy Commissioner (Technical), Dr. Usman Jankara, who warmly welcomed the NCAA delegation led by Mrs. Rominiyi F. Dorcas, Deputy General Manager, Financial Health and Aviation Insurance.
Dr. Jankara highlighted the importance of the partnership, which is aimed at safeguarding the interests of policyholders and ensuring accountability in the aviation insurance space.
Dr. Jankara addressed lingering misconceptions regarding NAICOM’s role, clarifying that the Commission prioritises the protection of policyholders, not just the interests of insurance operators.
He assured the public of NAICOM’s unwavering commitment to its regulatory mandate, which ensures fair compensation and proper indemnification in the event of aviation accidents or incidents.
The newly formed joint Technical Committee will focus on critical areas to strengthen insurance practices in the aviation industry.
Its terms of reference include:
Verification of insurance certificates and documents of airline operators, affiliate agencies, and NCAA service providers.
Providing technical support to the NCAA on insurance matters.
Facilitating the resolution of complaints related to insurance covers and services.
Offering advice to the NCAA on adequacy and validity of aviation insurance policies.
Coordinating training and awareness programmes for stakeholders.
Periodically reviewing the minimum insurance cover requirements in the aviation sector.
The committee is also tasked with automating processes to improve efficiency and ensuring seamless collaboration between NAICOM, NCAA, and other stakeholders.
In her response, Mrs. Dorcas pledged the NCAA delegation’s dedication to the committee’s objectives, promising to exhaust all efforts to ensure the success of this partnership.
She described the initiative as a vital step towards creating a robust insurance framework for the aviation industry.
Dr. Jankara officially inaugurated the joint committee, expressing confidence in the calibre of its members.
He emphasised the need for flexibility in the execution of tasks and highlighted the importance of collaboration in achieving the committee’s goals.
In his vote of thanks, Mr. Ajuyah Omeresan Alfred, Assistant Director (Special Risk), reaffirmed NAICOM’s commitment to supporting the aviation sector’s efficiency and effectiveness.
This partnership is expected to address long-standing challenges in the aviation insurance landscape, ensuring that operators, service providers, and policyholders are adequately protected.
