The National Insurance Commission (NAICOM) and the Nigerian Customs Service (NCS) on Wednesday collaborated to tackle fake insurance certificates, enhance revenue generation and ensure a hitch free settlement of claims.
The duo made the agreement when a delegation led by Mr Mohammed Kari, Commissioner for Insurance, NAICOM, visited the Comptroller General, NCS, retired Col. Hameed Ibrahim Ali in Abuja.
Kari said the partnership would enable NAICOM to advise and guide customs properly so that the insurance industry could increase the services provided to importers and users of NCS services in Nigeria.
The commissioner said NAICOM was mandated in law to provide advice to government and its agencies on matters of insurance.
“Our role is to advise MDAs free of charge on the best way to package insurance, what to insure, how to price insurance and identify a very good intermediary to place businesses through,’’ he said.
Kari urged the customs to allow the commission have access to its electronic portal to enable them to identify and track down fake insurance certificates issued to importers.
“ There are a lot of fake certificates out there, and the certificates need to be confirmed as genuine.
“The custom service just arbitrarily charge 1.5 per cent of the imported goods for marine insurance for importation through the water ways and they charge 0.5 per cent for importation through the air ways.
“ Unfortunately those premiums charged are not transferred further to the insurance industries they are kept in the customs services.
“ The idea is not only to make an income but to make sure that cover is provided in case there is a loss; there is a damage or inherent liability that has arisen from the transaction of that business.
“ We will ensure to find a way where the industry can get into the NCS’ portal so that all certificates can be checked on the portal without any problem in a click of a button,’’ Kari said.
The commissioner said NAICOM would provide a team that would work with customs and assist it in all matters relating to insurance.
He added that the commission was also in the process of ensuring that all documents relating to insurance were made in a simple and understandable language to insurance consumers.
In his response, the customs boss said that insurance was an area which the organisation had been spending so much money but had not been getting value for it.
Ibrahim said the visit by the commission was timely as it would help them resolve most of the pending insurance issues the customs faced.
The CG urged the commission to set up a body that would work with the customs insurance team and school them on the right measures to follow.
“ I crave your indulgence to set up a body that will work with our team and school us into what insurance is, what to insure and the genuine insurance companies to use.
“ Please give us some experts that will sit with us and streamline our insurance policies,’’ Ibrahim said.