National Insurance Commission to introduce more compulsory insurance products this year

The National Insurance Commission, NIC, has hinted of plans to introduce more compulsory insurance products into the country.

The move according to the National Insurance Commission is to deepen the insurance penetration level of Ghana.

The National Insurance Commission currently runs motor third party and private commercial property insurance products.

Commissioner of Insurance at the National Insurance Commission, Justice Yaw Ofori said the move is to help citizens have enough insurance policies protecting them.

“We are looking at group life even residential facilities, if you have a commercial facility that is being rented what we call passenger house, because the landowners should have insurance the tenant should also have insurance and other policies like professional indemnity must be made compulsory for professionals to have some indemnity policies so if a professional gives you can advise and things go wrong at least you can fall on an insurance.”

Commissioner of Insurance at the National Insurance Commission, Justice Yaw Ofori

Read also: GHS Council proposes reinsurance policy for it employees

According to Justice Yaw Ofori, the commission will by the end of the first quarter of 2019 present the bill to parliament.

 

 

 

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