Sierra Leone News: CSO Commends SLIA for Launching Motor Compensation Fund
By Stephen V. Lansana
A Civil Society Activist and Executive Director of Citizens Advocacy Network, Thomas Moore Conteh, has on Tuesday March 10, 2020, commended the Sierra Leone Insurance Association (SLIA) and the Sierra Leone Insurance Company (SLICOM) for launching a Le 1Billion “Motor Compensation Fund”.
He made this comment during the launching held at the Atlantic Hall in Freetown. The Le 1 billion Motor Compensation Fund was raised by the insurance companies and not from the government. The beneficiaries of the Fund includes: uninsured motorist, that is, the vehicle owner failed to take a motor insurance policy or the policy had expired at the time of the accident; hit and run vehicles, that is, vehicles which injure or kill the people but could not be traced or identified; and Bankrupt insurer, that is, the insurer of the vehicle has gone penniless or has gone into insolvency.
Mr. Conteh explained that after his last encounter with the Insurance Association, he thought they would not invite him because of his critical views on the operations of the Association. He added that the fact that the Association had invited him means that they were ready to accept criticisms He also congratulated them for the Motor Compensation Fund initiative and added that they were prepared to effect the necessary change in the industry.
“All of us have experienced situations wherein the victims of ‘Hit and Run’ accidents continue to live in difficulties, continue to suffer to the point they lose their lives,” he said.
“They have negative consequences on their families. This has been an aged old issue in the country over the years, and any initiative that gears towards ameliorating such a serious challenge should be welcomed by all of us.”
He however said that enough needs to be done in the industry, but commended the initiative of the Motor Compensation Fund.
“The challenges we face in this part of the world is not associated with policies, but it is our inability to effectively and efficiently implement policies,” he said. “So, I will want to present that while we commend you for this Motor Compensation Fund, we also want to appeal on behalf of the beneficiaries that this fund will be judiciously utilized to benefit the beneficiaries.”
He explained that the launching marked the first time a Motor Compensation Fund has been set up. He cautioned that a motorist is regarded as an uninsured when the vehicle owner fails to produce an insurance policy, and added that in most cases when he goes to insure his vehicle the insurance company would just give him the insurance badge. “I never knew that there is something called insurance policy which I should produce as a way of proving that my vehicle is insured,” he said. “There is need for Insurance Companies to scale up efforts to educate the beneficiaries of this policy because this policy will not yield the desired effect if the target groups are not abreast with the policy, and how they will claim the Fund.”
He pledged that he and other CSOs would work with the Insurance Companies to educate the beneficiaries. He pledged their commitment to working with the insurance Companies in reducing poverty in Sierra Leone.