News Formal

‘9.5 million uninsured vehicles affecting industry’s penetration’ | The Guardian Nigeria News - Nigeria and World News

  • 📰 GuardianNigeria
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 94%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

There are indications that only about 2.53 million out of the 12 million registered vehicles on Nigerian roads have genuine motor insurance, leaving about 9.5 million uninsured.

Some of these 9.5 million vehicles that are not insured use fake motor insurance papers, while the others do not have certificates at all.

The insurance industry is losing billions of naira on motor insurance to fake policy hawkers who sell only papers to motorists. Other uninsured motorists, it was learnt, prefer to bribe their way out with law enforcement agents in the case they are accosted on the roads.But insurance operators, led by NIA, said they are set to tackle the menace of fake motor insurance papers on Nigerian roads by launching a campaign tagged: ‘Wetin U Carry’, where vehicle owners can confirm the authenticity of their insurance papers by dialing *565*11# on their phones.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank highlights business support solutions | The Guardian Nigeria News - Nigeria and World NewsStanbic IBTC Holdings PLC has highlighted its array of solutions to support businesses, especially small and medium enterprises, in the country.
Source: GuardianNigeria - 🏆 1. / 94 Read more »