In a bid to offer relief and safety to commercial motorcycle riders and their passengers on Nigerian roads, Universal Insurance Plc has introduced a cover called Okada Personal Assurance & Safety Scheme (Okada Pass).
According to the insurer, the Okada Pass plan is specially designed to provide cover for personal accidents to the insured Okada rider and the product will be sold as an individual policy and as a group scheme to riders.
The Managing Director/Chief Executive Officer of the firm, Benedict Ujoatuonu, speaking on this product said the Okada Pass is a first-ever innovative insurance product that provides benefits and compensation plan in case of an accident to commercial motorcycle riders in the country.
Ujoatuonu added that the product comes in five different plans which are: Jeje cover, Carry-Go cover, No-Shaking cover, Confaam cover and Digital Bike cover and; the premium amount to pay will however depend on the type of plan selected.
“If you take a look at the level of accidents that involve the Okada riders every day on Nigerian roads, they are high and most often you discover they are left without any form of benefits that come from insurance. So, this is what our Okada Pass is coming to take care of.
“We provide them with personal accident cover that makes sure that when they sustain any injury that requires medical attention, they will get it from the policy. Even if it is a disability which is very rampant in Okada business, they will be covered by our policy. We will compensate the family of the rider if it results in death. Our Okada Pass is an innovative insurance product which has everything they need in the cover.”
He urged riders and their groups to embrace the new products so that they can create benefits for their members which will in turn sustain their business.
Universal set to indemnify riders with new okada policy
