NAICOM and Interior Ministry Address Travel Insurance Issues in Nigeria

The National Insurance Commission (NAICOM) and the Ministry of Interior in Nigeria, led by Dr. Olubunmi Tunji-Ojo and Mr.

Olusegun Ayo Omosehin, respectively, have signed an agreement to tackle travel insurance challenges, particularly related to repatriation costs. The agreement aims to reduce the financial burden on taxpayers by implementing travel insurance covering repatriation expenses.

The collaboration also emphasizes the need for efficient risk management in the insurance sector, with a focus on enhancing data verification processes through the National Identity Management Commission (NIMC). A technical workgroup will explore the development of a comprehensive travel and repatriation insurance policy to drive sector growth and efficiency.