NAICOM, NCAA Establish Joint Technical Committee to Address Aviation Insurance Matters

To demonstrate its role in regulating insurance in the aviation sector, the National Insurance Commission (NAICOM) has partnered with the Nigeria Civil Aviation Authority (NCAA) to tackle aviation-related issues and strengthen insurance regulations in the sector

The committee was officially inaugurated on Wednesday at the NAICOM office in Abuja. Representing the Commissioner for Insurance and CEO of NAICOM, Mr. Olusegun Ayo Omosehin, was Dr. Usman Jankara, the Deputy Commissioner Technical. Dr. Jankara welcomed the NCAA delegation, led by Mrs. Rominiyi F. Dorcas, signaling the beginning of a significant collaboration between the two agencies.

Dr. Jankara emphasized that NAICOM’s primary responsibility is to regulate the insurance industry and protect the interests of policyholders. Addressing misconceptions that the Commission prioritizes insurance operators over policyholders, he reassured the public that safeguarding their rights remains a top priority. He highlighted the Committee’s key role in ensuring that affected parties in aviation incidents are fairly compensated and properly indemnified.

Terms of Reference for the Joint Committee.
The Committee will focus on the following objectives: Verification of insurance certificates and related documents of airline operators, affiliate agencies, and NCAA service providers; Providing technical support to the NCAA on insurance matters.

Facilitating resolutions of airline operators’ complaints on insurance coverage and services during periodic meetings; Advising the NCAA on aviation insurance adequacy and validity.

Organizing training, workshops, and awareness programs for NCAA, NAICOM, and stakeholders; Coordinating insurance and aviation-related training; Attending and organizing periodic meetings for both organizations.

Periodically reviewing minimum insurance cover requirements for aviation operators and service providers; Facilitating regular engagements with airline operators and insurance providers and Executing any other tasks within the scope of the collaboration.

Mrs. Dorcas, the NCAA delegation leader and DGM for Financial Health and Aviation Insurance, pledged her team’s dedication to achieving the Committee’s objectives.

In his concluding remarks, Dr. Jankara officially inaugurated the Joint Committee, expressing confidence in its members’ expertise and emphasizing the importance of flexibility and automation in achieving set goals.

Mr. Ajuyah Omeresan Alfred, Assistant Director for Special Risk, delivered a vote of thanks, reaffirming NAICOM’s commitment to ensuring the efficient and effective operation of the aviation sector both now and in the future.