Brown card triggers future-lost profits for insurers

The brown card is a motor insurance certificate covering the insured against accidents occurring in various Western African countries parties to this system. In Nigeria, the premiums collected under this coverage have increased steadily, rising from 3.5 million NGN (23 061 USD) in premium volume in 2010 to 10 million NGN (62 680 USD) in 2013.

This success has led to many instances of counterfeiting whereby the insured, not knowing where to look for this document, rely on third parties who provide them with fake insurance certificates. This business generates an insurance fraud estimates at 70 million USD.