With the increase in the mandatory Motor Third Party Insurance Premium from N5000 to N15000, motorists traveling in West African nations would no longer need to obtain an Economic Community of West African States (ECOWAS) Brown Card, the National Insurance Commission (NAICOM) has revealed.
The commission’s newest statement on the obligatory motor insurance premium follows the Insurance Consumers’ Association’s recent appeal for an immediate reversal of the new motor insurance premium policy.
NAICOM’s head Corporate Communications and Market Development, Rasaaq Salami, noted that the ECOWAS Brown card has been captured in the upgraded premium for Motor Third Party insurance, adding that motorists driving within the West Africa sub-region would not bother to buy the ECOWAS Brown Card again.
