"Chief Justice Anin-Yeboah tasks judges to have entrenched understanding of new Insurance Act"

" Chief Justice Anin-Yeboah tasks judges to have entrenched understanding of new Insurance Act \r\n\r\nJustice Kwasi Anin-Yeboah, the Chief Justice of the Republic of Ghana, has tasked judges in the country to deepen their understanding of the new Insurance Act, 2021 (Act 1061).\r\n\r\nAn entrenched understanding of the new Insurance Act, the Chief Justice notes, will help judges of the various courts properly resolve insurance-related cases under the new Act.\r\n\r\n \r\n\r\nThe call for judges to have entrenched understanding of the new Insurance Act, follows the repeal of the Insurance Act, 2006 (Act 724) which regulated the insurance space for close to 15 years.\r\n\r\nDelivering a keynote address on behalf of the Chief Justice at the launch of the Nationwide Insurance Workshop for High Court Judges by the National Insurance Commission (NIC), on Tuesday, October 18, Justice of the Appeal Court and Acting Director of the Judicial Training Institute, Justice Dennis Adjei noted the new insurance law covers both statutory regime and common law with judges required to understand the common law position as well as the new changes introduced by the Act.\r\n\r\n \r\n\r\n \u201cAs judges, we are mandated to resolve all disputes and legalities that may come before us under the Act and we should be able to resolve them in accordance and purpose for which the Act was enacted,\u201d Justice Dennis Adjei stated.\r\n\r\n \u00a0\u201cWe as judges must understand what the Act seeks to address and apply the Act to promote the interests of stakeholders in the insurance industry, particularly the citizenry,\u201d he added.\r\n\r\nDescribing the Insurance Act, 2021 (Act 1061) which has 261 sections as comprehensive and unique, Justice Dennis Adjei noted the new Act deals with different aspects of insurance including; solvency and capital requirements, transfers and mergers, licensing, statutory deposits, mediation of complaints, whistle blowing, financial provisions, among others.\r\n\r\nConcluding the address read on behalf of the Chief Justice, Justice Dennis Adjei, urged the National Insurance Commission (NIC) to extend the training workshop on the new Act to district and circuit court judges as well as magistrates as they also preside over insurance-related cases.\r\n\r\nThe insurance workshop is currently targeted at only judges of the High Court, Appeal Court and Supreme Court.\r\n\r\n \r\n\r\nAlso speaking at the workshop was the Commissioner of Insurance, Dr Justice Ofori, who appealed to the Chief Justice to help ensure the \u00a0workshop is upheld and mutually sustained.\r\n\r\nHe further noted that, the Ghana Insurance College which is the insurance industry\u2019s foremost professional training institute, will soon commence discussions with the Judicial Training Institute to incorporate Alternative Dispute Resolution (ADR) into the College\u2019s training modules.\r\n\r\n \u201cThis is to inculcate good negotiation and other ADR skills in insurance practitioners themselves in order not to impede amicable settlement of insurance cases, thus reducing insurance-related litigations,\u201d Dr Ofori stated."

"Chief Justice Anin-Yeboah tasks judges to have entrenched understanding of new Insurance Act"

Standard Chartered Declares Dividend at 55th Annual General MeetingAMP

UBA Announces Strategic Expansion into Key Markets Across AfricaAMP

First National Bank Appoints Richard Edem Akabua as Head of Internal AuditAMP