The National Insurance Commission (NIC) has inaugurated its new office at Takoradi in the Western Region to ensure effective administration and supervision, regulation, monitoring and control of insurance businesses.
Also, it is to protect insurance policy holders, beneficiaries, third-parties, among others.
“The main objective of establishing this branch is to enhance regional presence and make our services accessible and transparent to the public,” Mr. Justice Peprah Agyei, Western Regional Manager of NIC, has said.
He mentioned that the activities of the office include public education, settling of complaints, among others. On-site visits and inspections are also carried out at the insurance branch and agency offices.
The NIC, he indicated, undertakes joint enforcement activities with the Ghana Police Service on Motor Insurance, and also joint enforcement with the fire service on compulsory commercial fire insurance. He also said the commission has offices in all the ten old regions of Ghana.
Furthermore, he stated that the commission has received and resolved 48 complaints from the general public from January to August 2022.
“We have also embarked on over 45 public education activities in various institutions and through other media outlets in the region over the same period,” he said.
Dr. Justice Ofori, Commissioner of Insurance, explained that the insurance industry has seen growth in insurance coverage, and is now second with 44 percent coverage in Africa, just behind South Africa. “This has been a tremendous incease from 29 percent to 44 percent.”
Nana Kobina Nketsia V, Omanhene of Essikadu Traditional Area charged the commission to look beyond its vision of becoming a model insurance regulator in Africa.
He also encouraged them to live within their core values of integrity and have the public interest at heart.
