protect the pride you built

NIIRA 2025 Explained: Why Capital Express Indemnity Insurance is Built for Your Protection

In a landmark move to strengthen Nigeria’s insurance sector, President Bola Ahmed Tinubu signed into law the Nigerian Insurance Industry Reform Act (NIIRA) 2025. This reform represents one of the most significant overhauls in recent years, aimed at repositioning insurance as a central pillar of economic stability, consumer protection, and sustainable development.

For businesses, property developers, landlords, and individuals, this Act brings both responsibilities and opportunities. At its core, NIIRA 2025 is about compliance, protection, and trust — and at Capital Express Indemnity Insurance Limited (CEIIL), we are here to help you navigate these changes seamlessly.

What the NIIRA Act 2025 Means for You

The NIIRA Act 2025 introduces sweeping changes designed to modernize the insurance industry and protect stakeholders across board. Some key highlights include:

  • Compulsory Insurance for Public Buildings and Construction Projects:
    From tenement houses, schools, and malls to hostels and office complexes, public buildings must now be insured against risks such as fire, collapse, flood, or storm.
  • Stronger Compliance and Enforcement:
    The Act empowers regulators to ensure strict adherence, with penalties for defaulters. This means non-compliance is no longer an option.
  • Enhanced Consumer Protection:
    Policyholders now have more confidence that claims will be honored and their interests safeguarded.
  • Boost for Builders Insurance:
    Perhaps most significantly, the Act emphasizes Builders Liability Insurance as a mandatory requirement for developers and contractors — ensuring that lives and property are adequately protected during construction activities.

Why Builders Insurance Matters More Than Ever

Construction projects are high-risk ventures. Accidents, structural failures, and unforeseen events can lead to devastating losses. With NIIRA 2025, Builders Insurance is no longer optional — it is a legal and ethical responsibility.

This policy provides:

  • Protection against risks of collapse during construction.
  • Coverage for liabilities to third parties in case of injury or property damage.
  • Compliance with regulatory requirements, avoiding penalties or project disruptions.

In short, Builders Insurance is your shield against the unexpected — ensuring projects are completed with peace of mind and in full compliance with the law.

Why Choose Capital Express Indemnity Insurance?

As the insurance landscape evolves, choosing the right partner becomes more critical than ever. Here’s why Capital Express Indemnity Insurance should be your first choice for General Insurance and Builders Insurance:

  1. Trusted Industry Expertise
    With decades of experience in delivering reliable insurance solutions, we understand the complexities of Nigeria’s regulatory environment and construction industry.
  2. Comprehensive General Insurance Portfolio
    From Motor Insurance, Fire & Special Perils, Marine, Oil & Gas, and Public Liability to Travel Insurance and General Accident cover — we offer a wide range of policies tailored to your needs.
  3. Builders Insurance Specialists
    We provide bespoke Builders Insurance policies that ensure compliance with NIIRA 2025 while offering the highest level of protection for developers, contractors, and property investors.
  4. Seamless Access & Easy Processes
    Purchasing or renewing your policy is simple and stress-free. Just visit our website www.ceiil.com.ng, follow the guide, and get covered instantly.
  5. Customer-Centric Approach
    At Capital Express, we don’t just sell policies — we build lasting relationships. Our commitment is to protect what matters most to you, with honesty, transparency, and professionalism.

The Bottom Line

The NIIRA Act 2025 is a game changer, reshaping the future of insurance in Nigeria. Compliance is no longer negotiable, and protection is more vital than ever. Whether you’re a motorist, property owner, or developer, the time to act is now.

At Capital Express Indemnity Insurance, we remain your trusted partner — ensuring you stay compliant, protected, and ahead.

Visit us today at 17 Bishop Kale Close, off Kasumu Ekemode Street, Saka Tinubu, Victoria Island, Lagos
Call 07059770508 | Email info@ceiil.ng

 

The small cover

The Small Cover That Saves Big Trouble

In Nigeria today, owning a vehicle is no longer considered a luxury; it is a necessity. Cars, motorcycles, and tricycles play a central role in how we work, commute, and live our daily lives. But with the benefits of mobility comes responsibility, and at the top of that responsibility is motor insurance.

One of the most critical and legally required forms of motor insurance in Nigeria is Third Party Motor Insurance. Unfortunately, many motorists still overlook its importance, not realizing that this basic insurance cover is both a legal obligation and a financial lifesaver.

So, why is Third Party Motor Insurance so important? Let’s break it down.

1. It’s the Law — A Compulsory Requirement

By law, every vehicle on Nigerian roads must have a valid Third Party Motor Insurance cover. According to the Insurance Act 2003, failure to comply can attract heavy fines, legal penalties, or even impoundment of your vehicle.

In fact, Third Party Motor Insurance is the minimum legal cover required to drive on Nigerian roads. Without it, you’re not just breaking the law, you’re also exposing yourself to unnecessary risks.

2. Financial Protection Against Unexpected Costs

Road accidents can happen to anyone no matter how skilled or careful you are. When they do, the costs can be overwhelming. Imagine:

  • Paying hospital bills for someone injured in an accident caused by your car.
  • Repairing or replacing another person’s damaged vehicle or property.
  • Compensating families in the unfortunate event of loss of life.

Without insurance, you would be responsible for covering these costs directly from your own pocket. With Third Party Insurance, however, the insurer steps in to handle these liabilities on your behalf. This alone can save you from devastating financial strain.

3. Peace of Mind for Every Driver

Driving is stressful enough with traffic, unpredictable weather, and road hazards. The last thing you need is the constant worry of “What if something happens?”

Third Party Insurance gives you peace of mind, knowing that you are:

  • Protected from unexpected claims,
  • Shielded from debt caused by accidents,
  • And driving with the assurance that you are legally compliant.

Peace of mind is priceless  and Third Party Motor Insurance gives you exactly that.

4. Affordable Yet Valuable

One of the greatest misconceptions about insurance is that it is expensive. In reality, Third Party Motor Insurance is one of the most affordable financial protections available in Nigeria today.

With Capital Express Indemnity Insurance, you can get covered for as little as:

  • Private Car: ₦15,000
  • Tricycle: ₦5,000
  • Motorcycle: ₦3,000
  • Commercial Vehicle: ₦20,000

For such a small yearly investment, you receive massive protection that can save you millions in liabilities. That’s value you can’t afford to ignore.

5. Protecting Your Reputation

Beyond money and law, there’s also your personal and professional reputation. Being uninsured can make you appear careless, irresponsible, and unprepared. On the other hand, being properly insured shows responsibility, accountability, and foresight qualities that matter in both personal and professional circles.

6. A Gateway to Wider Insurance Benefits

While Third Party Insurance is the minimum legal requirement, it also serves as the first step towards broader insurance protection. From there, you can expand into:

  • Enhanced Third Party (Express Ride)
  • Comprehensive Motor Insurance,
  • Personal Accident Cover,
  • And other insurance policies

It starts small but opens the door to a culture of protection and preparedness.

Don’t Drive Without It

Third Party Motor Insurance is not just a piece of paper, it is your safety net, your legal compliance, and your financial shield.

At Capital Express Indemnity Insurance, we make it simple, affordable, and reliable for you to stay covered. Whether you’re purchasing fresh insurance or renewing, just visit www.ceiil.com.ng, follow the simple guide, and get covered in minutes.

📍 Visit us at:
17 Bishop Kale Close, Off Kasumu Ekemode Street, Off Saka Tinubu, Victoria Island, Lagos.

📞 Call: 07059770508
📧 Email: info@ceiil.ng

Capital Express Indemnity Insurance – Protecting What Matters Most.