The National Insurance Commission (NAICOM) and the Nigerian Civil Aviation Authority (NCAA) have established a joint committee on aviation related matters to drive insurance growth in the aviation sector in Nigeria.
The inauguration of the Committee was successfully held at the NAICOM Office in Abuja on Wednesday, January 22, 2025.
Mr. Olusegun Ayo Omosehin, the Commissioner for Insurance and CEO of the National Insurance Commission, was represented by Dr. Usman Jankara, the Deputy Commissioner Technical. Dr. Jankara warmly welcomed the team from Nigerian Civil Aviation Authority (NCAA) led by Mrs. Rominiyi F. Dorcas, the inauguration is marking the beginning of a new collaborative effort.
The Deputy Commissioner stressed that the National Insurance Commission’s primary responsibility is to regulate the insurance industry’s business activities and safeguard the interests of policyholders.
This comes in response to misconceptions that the Commission only serves the interests of insurance operators, rather than balancing the needs of both parties. By emphasising the Commission’s core mandate, the Commission aims to reassure the public that their protection is a top priority.
It was emphasised that the primary objective of the joint Technical Committee is to reaffirm the Commission’s long-standing commitment to safeguarding the interests of policyholders. In the event of any accident or incident, the Committee ensures that all affected third parties receive fair compensation and are properly indemnified.
The following are the terms of reference for the joint committee:
- Verification of certificate of Insurance and other insurance related documents of airline operators, affiliate agencies, and NCAA service providers
- Provide Technical support to NCAA on insurance matters.
- Co-ordinate/facilitate resolutions of complaints of airline operators on insurance covers and services during periodic meetings.
- Provide advice to NCAA on all aviation insurance related matters bordering on adequacy and validity.
- Coordinate trainings/workshop/awareness programmes for NCAA/NAICOM and its stakeholders on aviation insurance.
- Coordinate training on insurance and aviation matters.
- Organise and attend periodic meetings of both organisations.
- Carry out periodic review of the minimum insurance cover requirements by all persons/group of persons having a duty as operator/provider in the Aviation sector to maintain adequate insurance for their operations during periodic meetings.
- Organise and attend periodic meetings with airline operators and insurance providers.
- Carry out any other tasks as the Collaboration allows.
The DGM, Financial Health & Aviation Insurance, Mrs. Dorcas, the Leader of the NCAA Delegation, responded by making a commitment to thoroughly dedicate herself and her team to their responsibilities. She pledged to exhaust all efforts in ensuring the successful attainment of the committee’s objectives.
In conclusion, Jankara announced the inauguration of the joint committee, following the agreement on the terms of reference. He emphasised the need for flexibility and automation of processes, expressing confidence in the committee’s ability to deliver due to the caliber of its members.
Mr. Ajuyah Omeresan Alfred (Asst. Director Special Risk), in his vote of thanks, reaffirmed NAICOM’s unwavering commitment to ensuring the aviation sector operates efficiently and effectively, both now and in the future.
