In its effort to eliminate fake insurance documents of vehicles in Ondo State, the Nigerian Insurers Association, NIA, has presented 50 mobile verification devices to the state Board of Internal Revenue, BIR, for verification of motor vehicle insurance documents.
The devices, called ‘Nigerian Insurance Industry Database[NIID]
Inspector’ are to be distributed to authorised government agencies that are saddled with the responsibilities of carrying out policy verification on the roads.
Presenting the devices to the board, the Director-General of NIA, Mr Thomas Olorundare, explained that NIID was meant to confirm the authority of motor insurance policy of the individual motorist, noting that fake insurance documents have denied Nigerians social and economic benefit of genuine insurance transactions.
Appealing to the public to go for Insurance Policy Cover, Olorundare hinted that the amount of the cover ranges between N5,000 and N12,000 annually, depending on the grade of the vehicle.
He warned that failure to get insurance cover for ones vehicle was liable to one year imprisonment or an option of N250,000 fine or both under Section 8 of the Insurance Act 2003.
The NIA boss assured that insurance claims was being paid by the insurance companies to the insurer within a month of disaster.
‘NIID is an information technology-based system that facilitates
easy collation and dissemination of statistical and other
information relating to insurance on one hand, and also serves as a mechanism for easy identification of genuine insurance documents by law enforcement agencies and relevant authorised persons.
Responding, Chairman, of BIR, Mr Akin Akinsehiwa appreciated the initiatives of the NIA and assured that the board would ensure maximum use of the devices to enhance effective use and management of road users.
Represented by a Director in the Ministry, Mr Bunmi Alade, BIR boss pledged the support of the board to assist the law enforcement agencies and the NIA in enforcing the policy in the state.


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