From March 16th 2022, the city of Tamale will host over 200 insurance Chieftains at the Modern City Hotel, Tamale, in the Northern Region for the 7th Annual Education Conference and Exhibition of the Insurance Brokers Association of Ghana (IBAG).
The conference will be held under the theme ‘The Impact of Increased Regulatory Requirements on Insurance Business’. This conference was supposed to have taken place in 2020; however, due to the global COVID- 19 Pandemic, the Insurance Brokers Association of Ghana (IBAG) had to postpone it indefinitely till now.
Renowned resource persons have been pencilled for this four-day conference and exhibition. They include Mr. Kwei Ashidam, Former Managing Director-SIC Insurance Company; Mr. Bonahopas Arkhurst, Lecturer-Ghana Insurance College; and Mercy Kyei, CEO-Boaitey and Associates Limited.
There would also be some technical sessions in Life Assurance on the first day, on issues like Attracting Millennials to the Life Insurance Industry that will attract paper presenters of the stature of Mr. Fifi Simpson, Managing Director-GN Life Insurance Company Limited.
It will be recalled that the Annual IBAG Conference and Exhibition has moved from region to region over the past years. This time it is time for Tamale to host it. Personalities to grace this year’s conference will include Dr. Justice Ofori, Commissioner of Insurance, as Chairman of the Opening Ceremony; the Northern Regional Minister, Shami Alhassan Shaibu as Guest of Honour; Sagmarigu Naa, Naa Yakubu Abdaulai as Special Guest of Honour; and Shaibu Ali, President-IBAG as host.
Other dignitaries expected include Heads of Insurance industry bodies like the Ghana Insurers Association (GIA), Chartered Insurance Institute of Ghana (CIIG), ECOWAS Brown Card Scheme, West Africa Insurance Companies Association (WAICA), Insurance Awareness Committee Ghana, Ghana Insurance College, and CEOs of Insurance, Re-Insurance and Broking Firms.
According to the statement released by IBAG, the theme is topical considering the fact that regulated entities are undergoing recapitalisation coupled with a New Insurance Law (ACT 1061) being passed.
NIC is currently working on the insurance regulations required by the Act, and has already issued a number of directives and market conduct rules which include directives on term-limits for directors, and capping commission sharing between local and foreign brokers. This is in order to sanitise the system and increase public trust in insurance, which will likely see more of these specific regulations alongside general legislation such as the New Companies Act.
The conference will also seek to deliberate on the impact of these existing regulations and orders to come in the near future, and share ideas on ways of coping with the change in order to remain compliant and relevant in the insurance market.
The conference will start with technical sessions on the arrival date, which is 16th March 2022; with discussions like ‘The Principle of Average’ during the general business session and an opening dinner dubbed ‘Akomfem Dinner’ to end the day.
The Opening Ceremony is on Thursday 17th March 2022, and will be followed with the business session where Mr. Emmanuel Baba – a Corporate Governance Expert – will be the Main Speaker on the theme, which will be followed by the CEOs and Young Executives forum.
Friday has been declared as a recreational day. There will be an excursion to the Mole Park and Larabanga Mosque, with a closing dinner and Awards Night in the evening.
