SIC Insurance PLC on Wednesday paid a non-motor insurance claim of US$1,020,779 to the Volta River Authority (VRA) in Accra.
The claim was paid under VRA’s Asset All Risk Policy in respect to the explosion of a feed water pipeline to the boiler of VRA’s Heat Recovery Stream Generator at Aboadze, Takoradi, in the Western Region.
Presenting a cheque to the CEO of VRA, Edward Ekow Obeng-Kenso, Acting Managing Director-SIC Insurance PLC, James Agyenim-Boateng, said payment of the claim is a testament that SIC is always committed to its obligations and prioritises customer satisfaction.
“SIC is reliable, we cherish our relationship with our customers; we serve with integrity, excellence and professionalism and what we are doing here at VRA is a testament to that,” he said
Mr. Agyenim-Boateng said this is not the first time that SIC Insurance PLC is honouring such an obligation to the VRA.
“In 2021, SIC Insurance PLC paid US$4.3million to VRA in insurance claim for one of its generators that was insured with us. Today, we are paying a more than US$1million insurance claim to VRA following an explosion of the Authority’s Heat Recovery Steam Generator,” the Acting Managing Director-SIC Insurance PLC said.
“This should send a strong signal to the business community that SIC Insurance PLC has strong financial muscle to pay claims,” Mr Agyenim-Boateng added.
“We value our relationship with our customers and we want to send a strong signal to the market that SIC has the capacity to underwrite the policies we do – and when bad times come we won’t turn our back on them, we will honour and carry through our obligations,” he assured.
Mr. Agyenim-Boateng added: “SIC is ready for business, come and do business with us and when bad times come we will come to your aid. We are the only insurance company that will chase you with your cheque as we have done with the VRA”.
For his part, Mr. Obeng-Kenzo commended SIC Insurance PLC for the payment and called for closer collaboration between the two institutions.
“We are two state agencies and whatever it takes for us to make sure state agencies work efficiently and effectively, we should do together – and also cooperate with each other to project that, at least, the state agencies can do the business just as private people can do it,” he said.
