The National Insurance Commission (NAICOM) and the Nigerian Civil Aviation Authority (NCAA) have formed a strategic partnership to address industry misconceptions, enhance transparency, and reinforce regulatory standards in the insurance and aviation sectors.
During a meeting at NAICOM’s headquarters in Abuja, a joint technical committee was inaugurated to oversee the collaboration. This initiative underscores NAICOM’s commitment to safeguarding policyholders’ interests and ensuring regulatory balance across the industry.
According to NAICOM, the partnership aims to dispel false narratives suggesting that the Commission prioritizes insurance operators over policyholders. By working closely with the NCAA, NAICOM is reinforcing its mandate to protect all stakeholders.
Key Responsibilities of the Joint Committee
The newly formed technical committee will focus on several critical areas:
- Verification of Insurance Certificates for airline operators, affiliate agencies, and NCAA service providers.
- Providing technical support to NCAA on insurance-related matters.
- Ensuring fair compensation for third parties affected by aviation incidents.
- Facilitating complaint resolutions between airline operators and insurers.
- Conducting periodic reviews of minimum insurance cover requirements for aviation stakeholders.
- Organizing training programs on aviation insurance for NCAA, NAICOM, and industry participants.
Speaking on behalf of the Commissioner for Insurance, Dr. Usman Jankara, Deputy Commissioner (Technical), emphasized the importance of flexibility and automation in regulatory processes. He assured stakeholders that the caliber of committee members would ensure effective policy implementation.
Representing the NCAA, Mrs. Rominiyi Dorcas, DGM, Financial Health & Aviation Insurance, reaffirmed the NCAA’s commitment to fulfilling its responsibilities under the partnership. She pledged to work diligently toward achieving the committee’s objectives.
NAICOM’s Assistant Director of Special Risk, Mr. Ajuyah Omeresan Alfred, stated that the Commission remains dedicated to ensuring the efficiency and sustainability of the aviation sector. The partnership between NAICOM and NCAA is expected to boost confidence in Nigeria’s insurance industry while strengthening consumer protection for aviation stakeholders.
