Get marine insurance rather than a fine, says Leadway boss

Many people bringing cargoes into Nigeria are unaware that the cargo needs to be insured locally, claimed Leadway Assurance executive director for General Business Adetola Adegbayi in an interview with local paper Vanguard. She said that the Nigerian Insurers Association (NIA) was working hard to come up with the marine module of the Nigeria Insurance Industry Database (NIID) so that marine insurance certificates could be verified online. But if your goods arrive safely in Nigeria, at which point the customs ask for insurance and you don’t have any, all that your clearing agent can do is pay the fine for not having insurance, said Ms Adegbayi, who added that the NIA did not have uninsured loss data.