The National Insurance Commission (NAICOM), and the United Nations Development Programme (UNDP) recently took their Insurance Literacy and Consumer Protection Campaign to Wuse Market, Abuja.

NAICOM said the campaign was targeted at educating traders and the general public on the importance of insurance.

The campaign, tagged "Insurance Literacy And Consumer Protection Campaign: A UNDP (Nigeria) Project 2025," also aimed at enhancing financial resilience and promote inclusive insurance as a vital tool for reducing poverty and building financial inclusion among Nigerians.

The UNDP representative, Mrs Bukola Ifemade welcomed participants to the event and expressed appreciation to all stakeholders.

Key points in their discussions include Fire and Special Perils Insurance as a way to compensate traders for losses or damages caused by fire, storms, floods, and impact by vehicles or animals.

They also educated participants on the relevance of Goods in Transit Insurance policy saying it provides immediate financial compensation for losses or damages during transportation.

Accident Insurance policy the campaigners said offers financial compensation for injuries or deaths resulting from accidents.

Life Insurance was described as a vital tool for leaving inheritance for dependents in the event of untimely death.

The Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, emphasised NAICOM's core mandate to protect policyholders and regulate the insurance industry.

Other stakeholders, including the Nigerian Council of Registered Insurance Brokers (NCRIB) and the Nigerian Insurers Association (NIA) also provided guidance on purchasing genuine insurance policies and verifying their authenticity to the participants.