The Ghana Shippers’ Authority has educated the shipping community in the Western Region on the need to sign onto Marine Cargo Insurance, an insurance package that protects individuals or a company’s investment.
Without cargo insurance, all cargo is handled, stored and carried at the shippers’, owners’ and consignees’ risk.
With Marine Cargo Insurance provided locally, the shipper has the ability to choose an insurer; get quick and easy processing of claims when the shipper suffers any loss, and payment of relatively cheaper premiums; strong regulatory oversight by the National Insurance Commission; and the Ghana Shippers Authority ensures that right insurance policies are applied for various types of shipments.
Charles Darling Sey, Branch Manager of Ghana Shippers Authority for Western Region with oversight responsibility on Western North and Central Regions, at a workshop for shippers in Takoradi explained that the education has become necessary following several grievances from shippers.
The workshop, he said, is to expose the shippers to understand, discuss issues relating to claims and advance the need for marine insurance policy to protect shippers’ interest. He said Marine Cargo Insurance is prudent for shippers to take, as it enables them to shift risks and challenges to specialist risk-bearing underwriters.
Getrude Ohene Asienim, Maritime Consultant, speaking on the topic ‘Marine Cargo Insurance Practice in Ghana: The role of importer, the exporter and their intermediaries’ explained that cargo insurance covers the risk of physical damage to, or loss of, goods while in transit by air, sea and land.
On Marine Cargo Insurance, she explained that affected persons are to inform their insurer of the loss, damage or shortage immediately it occurs; and on claim procedure, she mentioned that the company needs to inform the insurer of the loss, damage or shortage immediately.
Also, she said, it is important for the shipper to write to all carriers placing them on notice of claim. There are statutes of limitation for notifying the carrier of loss, damage, or non-delivery.