Sovereign Trust Insurance Plc recently said it designed its Enhanced Third Party Motor Insurance Policy, amongst other products, following its commitment to improve the lives of its insuring public.
The Managing Director/Chief Executive Officer of the company, Mr Olaotan Soyinka, said this at the inauguration of the new executive members of the National Association of Insurance and Pension Correspondents (NAIPCO) in Lagos.
Soyinka, represented by the firm’s Deputy General Manager, Sales and Corporate Communications, Mr Segun Bankole, said that the mission of the insurance company was to create exceptional value for its customers.
“As an organisation, we have been driven by our vision and mission and in this regard, proud to say that we underwrite some of the profitable oil and gas businesses in the country.
“In terms of innovation, we have a product called the Enhanced Third Party Motor Insurance Policy which was designed to extend the coverage of claims for the regular third party motor insurance to the insured.
“With our enhanced third party, which is just N7,500 per annum, you have the third party being insured in case of any damage to the tune of N1 million and the insured to a limit of liability up to the tune of N500,000,” he said.
According to him, the enhanced third party motor insurance cover was designed to protect the customers and keep them in the firm’s dragnet, following current economic hardship that may discourage them to buy the comprehensive motor insurance.
The Managing Director pledged that the insurer would continue to partner with NAIPCO members, as their role was integral to its growth and that of the industry.
Soyinka, however, congratulated the newly elected executives of the association ably led by the Chairperson, Mrs Nkechi Naeche-Esezobor, Publisher/Editor-in-Chief, Business Today, and wished them a successful tenure.