Lasaco advocates compulsory insurance as enforcement begins

Joy Agwunobi

Lasaco Assurance, one of Nigeria’s leading insurance providers, has emphasised the critical need for individuals and businesses to secure compulsory insurance as the nationwide enforcement of compulsory insurance laws begins.

In a statement, Razaq Abiodun, the company’s managing director, stressed that insurance is not merely a legal requirement, but a vital safeguard for individuals, families, and businesses alike.

This comes as the National Insurance Commission, in collaboration with the Nigeria Police Force, has established a joint committee to strengthen the enforcement of compulsory insurance laws. The police began enforcing third-party motor insurance nationwide starting February 1.

Lasaco Assurance reiterated its commitment to ensuring that more Nigerians experience the financial security and peace of mind that come with comprehensive insurance coverage. Abiodun stated, “At Lasaco Assurance, we understand the importance of solid, reliable insurance. Our mission is to make this protection affordable and easily accessible to all Nigerians. We will continue to innovate, providing insurance products tailored to meet the evolving needs of our diverse customers.”

He further highlighted the company’s focus on motor vehicle insurance, noting, “Our motor vehicle insurance plans offer extensive coverage, protecting against both accidental damage and third-party liability. We are not simply an insurance provider—we are a trusted partner in ensuring your financial security and peace of mind. Our aim is to make insurance more affordable, accessible, and reliable, so that every Nigerian, whether an individual or business, can enjoy the security they deserve.”

Abiodun also acknowledged the key role that trust and customer satisfaction play in the insurance industry. He emphasised that Lasaco Assurance prides itself on delivering exceptional customer service and ensuring a seamless claims process.