NAICOM, Shippers’ Council Partner To Replace Container Deposit With Insurance

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Executive Secretary, Nigerian Shippers’ Council (NSC), Mr. Hassan Bello

As part of efforts to introduce insurance cover on empty containers, Nigerian Shippers’ Council (NSC) is collaborating with the National Insurance Commission (NAICOM).

The initiative would lead to reduction in the cost of doing business at the ports through the introduction of insurance cover on containers, with container deposit stopped.

The Executive Secretary, NSC, Mr. Hassan Bello, disclosed this when the Council’s delegation visited the management of NAICOM yesterday, in Abuja.

According to the NSC boss, the two agencies would also look into risk management at the various ports to ease business in the sector.

He also opined that insurance should be looked at in the area of policies involving goods on transit, accidents, loss, damages in order to move away from religious sentiments that everything happened for a reason.

Bello, however, said that in spite of the pandemic the Council was working with all other maritime agencies to look into digitalization of ports to limit the access of physical contact.

Responding, Mr. Olorundare Thomas, Commissioner for Insurance (NAICOM), expressed willingness to collaborate with NSC to make insurance significant in the maritime sector.

Mr. Olorundare Thomas commended the NSC for bringing up creative ideas that would deepen the market of the commission in the maritime industry.

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