Individuals, institutions urged to embrace insurance policies – Commissioner of Insurance


Dr. Ofori Justice Yaw Ofori, Commissioner of Insurance of the National Insurance Commission (NIC), has encouraged individuals and institutions to embrace insurance policies for security and peace of mind in times of uncertainty.

He noted that some people have foot-dragging attitudes toward insurance policies, and this must become a thing of the past.

According to him, people spend fortunes in setting up businesses and invest so much on properties but fail to protect them by taking affordable premium.

“Let us not wait for the unfortunate to happen, especially on commercial entities; so far as you operating and rendering services for the public, do the right thing,” Dr. Ofori added.

He was speaking to the media at Elmina in the Central Region to discuss issues relating to NIC and its operation in the country.

He said the NIC is encouraging members of the business fraternity and occupants of commercial properties to obtain compulsory fire certificate.

Insurance Fire certificates, he said, are to be displayed at the premises of these commercial entities since authorities randomly go for inspection.

Dr. Ofori mentioned that the NIC together with its stakeholders are in the process of developing software that will enable inspecting authorities and the general public to verify the validity of Fire Insurance on commercial properties in real-time, as there will be a central database containing records of commercial properties insurance.

Dr. Ofori advised the public to watch out for the insurance status as they enter any commercial property or public place in their own interests. Life is full of risks, but insurance is there to guard you against such risks.

“Insure your business, as it is not only required by law to do so but it also makes business sense to have your investment protected from fire and its allied perils,” he added.

He explained that the National Insurance Commission, NIC, monitors, regulates and supervises the operations of insurance entities in the country.

“Buy insurance that takes care of liability to protect property and occupants. The NIC protects the interest of a policyholder,” he advised.

He urged policyholders to petition the Complaints and Settlement Bureau of NIC whenever they have a challenge.

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