The National Insurance Commission (NAICOM) has partnered with the Nigeria Civil Aviation Authority (NCAA) to tackle aviation-related issues and strengthen insurance regulations in the sector, as well as demonstrate its role in regulating insurance in the aviation sector.
At the inauguration of the committee in Abuja at the NAICOM office, the Commissioner for Insurance and CEO of NAICOM, Olusegun Ayo Omosehin, who was represented Dr. Usman Jankara, the Deputy Commissioner Technical, Noted that NAICOM’s primary responsibility is to regulate the insurance industry and protect the interests of policyholders.
Addressing misconceptions that the Commission prioritizes insurance operators over policyholders, he reassured the public that safeguarding their rights remains a top priority. He highlighted the Committee’s key role in ensuring that affected parties in aviation incidents are fairly compensated and properly indemnified.
Terms of Reference for the Joint Committee include to focus on the following objectives: Verification of insurance certificates and related documents of airline operators, affiliate agencies, and NCAA service providers; Providing technical support to the NCAA on insurance matters;
Facilitating resolutions of airline operators’ complaints on insurance coverage and services during periodic meetings; Advising the NCAA on aviation insurance adequacy and validity;
Organizing training, workshops, and awareness programs for NCAA, NAICOM, and stakeholders; Coordinating insurance and aviation-related training; Attending and organizing periodic meetings for both organizations;
Periodically reviewing minimum insurance cover requirements for aviation operators and service providers; Facilitating regular engagements with airline operators and insurance providers and Executing any other tasks within the scope of the collaboration.
The NCAA delegation leader and DGM for Financial Health and Aviation Insurance, Dorcas, Rominiyi
pledged her team’s dedication to achieving the Committee’s objectives.
