The Association of Maritime Truck Owners (AMATO) has launched a ‘Pay As You Go’ (PAGO) insurance scheme for its members aimed at reducing the incidence of accidents involving articulated vehicles.
Speaking to Newsmen on the development, Mr. Adeshina Ajibola, Head of the Technical and Research Department at AMATO, revealed that key maritime industry stakeholders — including the Nigerian Ports Authority (NPA), the Nigerian Shippers’ Council (NSC), and the Lagos State Government — have been duly informed about the initiative and have expressed their support for the scheme.
He also said that AMATO is currently in discussions with Great Nigeria insurance Plc to drive the AMATO PAGO. insurance project for truckers.
He said: “We have taken the initiative to the Nigerian Shippers Council, to the Nigerian Ports Authority, to the leadership of the Lagos State Government who seen to be delighted in the initiative.
“We are doing this to curtail the high rate of containers falling off articulated vehicles and other forms of accidents involving these categories of vehicles.
“It is still work in progress because we are still discussing with an insurance company to tie up the loose ends and begin to enforce as soon as possible.
“Even before the Police started the enforcement of third party insurance, ours has been in the pipeline. That is what we intend to do with our members but because of the small politics within and around the industry, there are little delays.
“So it is on, by the Grace of GOD, it is something we are looking forward to. It is pocket friendly because it is pay as you go. You know it’s a specialized kind of arrangement, it was an AMATO that sat down with this insurance company to design a product like this for members of AMATO and convenience of truck owners.
“Like I told you, because of the small small politics here and there, we intend to commence with reffer containers (Refrigerated Container). We intend to use it as a pilot scheme and see how successful it will be.”
Confirming the development, Remi Ogungbemi, National President of AMATO, said that the decision to initiate the PAGO insurance scheme was due to inability of insurance premium as at when due
Confirming the development, Remi Ogungbemi, National President of AMATO, stated that the PAGO insurance scheme was initiated due to the challenges in the payment of insurance claims by insurance companies.
Ogungbemi also noted that insurance claims often remain unpaid for up to six months, leaving the affected individuals unable to work during that period.
He disclosed the group is waiting for the regulating and approving authorities so as to commence the scheme.
