The National Insurance Commission (NIC) is putting in place measures to ensure that all goods imported into the country are insured by the Commission in the coming year.
Disclosing the move in a media engagement, Deputy Commissioner of the NIC, Michael Andoh, noted that the NIC together with the Ghana Shippers Authority (GSA) and the Ghana Revenue Authority (GRA) will soon be signing a tripartite cargo insurance protocol to ensure that all goods entering into the country are insured.
According to him, the move is in line with Section 37 of the Insurance Act, 2006 which requires that all imported goods be insured in the country by the NIC.
Speaking further, the Deputy Commissioner of the NIC noted the tripartite protocol will boost the growth of the marine sector and also afford the Commission its goal of growing the insurance sector’s gross income to Ghs 10 billion in 3 years.
“Section 37 of the Insurance Act requires that all goods coming into the country must be insured in the country, but it has been difficult for the NIC to enforce that because we don’t control the ports, so we’ve had discussions with the GRA and Ghana Shippers Authority to have the tripartite cargo insurance protocol which is going to ensure that,” he said.
“So the protocol is just an enforcement of Section 37 of the Insurance Act,” he quickly added.
Mr Andoh made the assertions speaking to the media on the sidelines of the corporate rebranding of KEKE Insurance Brokers.