Insurance Gist

01/04/2023

Good things are happening in SIC, the nations biggest insurer

27/02/2021

GPRTU recognises the importance of new developments championed by the National Insurance Commission NIC (Insurance regulator in Ghana)

The National Chairman of the Ghana Private Road Transport Union (GPRTU) has commended the National Insurance Commission (NIC), for coming to the rescue of their members in the commercial transport sector and bringing sanity to our roads.

17/02/2021

NEW INSURANCE LAW

The Insurance Bill, 2020 has received presidential assent, revealed outgoing chairman of the National Insurance Commission, Ray Ankrah.

The Bill had undergone a second reading in Parliament in December 2020.

The new insurance law replaces the Insurance Act of 2006, and ensures the industry is well regulated in accordance with the international framework and acceptable supervisory standards, reported Ghanaweb. Over the years, the National Insurance Commission, the finance committee of Parliament and other stakeholders have made various amendments which were incorporated into the Bill.

One thrust of the new law is to increase insurance pe*******on in Ghana which currently remains low.
The new law adds three compulsory insurance covers, namely, Public Liability, Group life for employees and Professional Indemnity. Currently, insurance companies underwrite two compulsory insurance covers: Motor Third-Party Liability and Fire (for private commercial properties).

The new law also seeks to mandate insurance companies to meet corporate governance standards and comply with best practices aimed at protecting the premiums or funds paid in by customers.

Story is credited to MEIR

In the coming months, this page will be looking into details at some aspects of the new Law for our followers to have a better understanding of what to expect when applying for insurance.
Stay connected and send in your insurance questions

06/01/2021

We pledge to stand by you in this new year

04/10/2020

Be informed so you can take informed decisions

Every car or motor insurance policy has some common inclusions and exclusions which you must be aware of. Here we are taking a look at them.

05/09/2020

Did you know insurance is playing a pivotal role in the world's economy especially post-covid19?

New research from Swiss Re has shown the importance of insurance in economic recovery post-coronavirus

https://t.co/Gzbx52qhIv

https://twitter.com/InsuranceTimes_/status/1298538492084051970?s=20

Enjoy your weekend

27/08/2020

Yes, the Agric sector is not left out.
Your farm can be insured.

Climate change, Agric and Livestock - What the Farmer needs to know

17/08/2020

A remarkable milestone, its Star Assurance and Total Ghana this time
Hopefully, their aim of increasing insurance coverage will be achieved

Indigenous Insurance firm, Star Assurance has partnered with oil marketing firm, Total Ghana to deepen insurance pe*******on in Ghana This collaboration between the two firms is aimed at selling motor insurance and related products to commercial drivers especially members of the Total Troxi Club. To...

17/08/2020

A good morning to you from the team here at 'Insurance Works In Ghana '

Its time you checked if your motor insurance is genuine
Read the story below carried by graphic online

Have a productive week
Dominate your space.....

The National Insurance Commission , together with the Motor Traffic and Transport Department of the Ghana Police Service will soon commence a nationwide exercise aimed at enforcing the Motor Insurance Database introduced by the NIC in January, 2020.

17/08/2020

Collaborating to provide innovative products.
That's what happened when Prudential Life Insurance GH joined Surfline Communications in this new venture

Business Gha covered the story