Home Business Insurance & Pension How Insurance firms shortchanging Drivers, Nigerian travelers-FRSC boss

How Insurance firms shortchanging Drivers, Nigerian travelers-FRSC boss


The Corps Marshal of the Federal Road Safety Corps (FRSC), Boboye Oyeyemi, on Tuesday, disclosed that Insurance brokers are taking advantage of the ignorance of travellers to deny them of compensations in the event of mishaps.

The Corps Marshal noted that both the drivers and passengers are unaware of their rights and entitlements, especially under the third party insurance scheme.

According to the FRSC boss who made the disclosure during a joint stakeholders forum jointly organised by the Federal Competition and Consumer Protection Commission (FCCPC) at the FRSC Headquarters Abuja, with the theme ‘Safety and Consumer Satisfaction in the Ember Season’, “the travellers don’t even know that the third party insurance policy has power, passengers and drivers need to know their rights”.

He added further that, “as co-stakeholders, there are several areas that we can cooperate, and from which the nation can benefit, one of which is in the vehicle insurance regime which has become a major issue in road transport in Nigeria, particularly in compensation in event of mishaps, due, significantly to the ignorance of insurance consumers.

“Also faking of the vehicle insurance documents have become quite rampant, both of which deserve closer examination. Just as motor vehicle operators appear ignorant of some of their responsibilities, so do many other road users, particularly passengers in vehicles in the course of mishaps causing trauma or other forms of loss. Our approach will, therefore, be predicated on the tripod; products, trends and patterns.

“Further, our stakeholding will be systematic and orchestrated to inculcate road safety consciousness and the responsibility of the road users as well as the motorists as the respective players such that each knows and respond to their different statutory commitments”.

Earlier in his speech, the Chief Executive Officer of NCCPC, Babatunde Irukera, said that the Commission will be collaborating with the FRSC on how best to ensure the security, safety and the comfort of road users, especially during the yuletide.

He said, “we are committed to everything that will secure lives on our roads during the festive period. As we go into this period, there are few things that are important and they include the conduct of those who operate motor vehicles and as the Agency charged with the responsibility of regulating vehicle operations you must ensure that they operate in a manner that is safe”.


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