Previous Hollardite writers have educated us on various insurances. This topic will add to our learnings but may seem complicated at first glance. Let’s talk about IFRS.
What is IFRS?
I’ll start by breaking it down. IFRS is an abbreviation for International Financial Reporting Standard. IFRS specifies how particular types of...
If you think risk management and insurance are expensive, then try crisis management. COVID-19 has given us a better platform to analyze them. “What if?” is the simple question responsible for igniting invention, ingenuity and even revolution throughout the history of business. “What if” most importantly prepares our mindset...
The Ghana Insurance Association (GIA) - umbrella body of all licenced insurance and reinsurance companies in Ghana - has warned that henceforth the insuring public must insist on having a GIA stamp on all documents for both Life and Non-Life insurance.
The Association also disclosed that it exists not only...
CREDIT INSURANCE
In the intricate ballet of the business world, sustaining a harmonious flow between trade receivables and ensuring that the cash flow remains uncompromised is pivotal. In this delicate dance, credit insurance takes centre stage, acting as a formidable shield against the potential pitfalls of non-payment and unforeseen financial...
The National Insurance Commission (NIC) has inaugurated a new office in Cape Coast to serve the public and regulated entities in the Central Region.
“The setting up of the office in the Central Region is to facilitate engagement with policyholders on any insurance related matters,” Dr. Justice Yaw Ofori, Commissioner of...
Hollard Insurance has launched the first virtual insurance chatbot in Ghana, with the goal of making insurance more accessible to Ghanaians via popular messaging channels such as WhatsApp.
The innovative product, called Hollard ChatInsure, is currently hosted on WhatsApp by an Artificial Intelligence (AI) chatbot called ‘Araba Hollard’. Araba is...
Chief Executive Officer of Donewell Insurance Company Limited, Seth Aklasi, has stated that the company has exceeded the National Insurance Commission's minimum capital requirement of GHS 15 million.
According to him, the company has so far made GHS 23 million. He said Donewell is fully capitalized and has a clear...
I chanced upon an article online on January 24, 2023 from cedidollar.com and same repeated on myjoyonline.com captioned, ‘Private Health Insurance players unhappy with GAB activities’ - in which the report purports that there is simmering tension in the Private Health Insurance Industry over unfair business practice by a...
Life insurance covers your life and also has provisions to provide a savings and investment avenue. Life insurance is a long-term contract and requires you to pay the premiums in monthly installments. Life insurance can be done for any value based on the premium the policy holder is willing...
Allianz Life Insurance Ghana has met and exceeded the minimum capital requirement of GH¢50 million for insurance companies operating in Ghana as announced by the National Insurance Commission in June 2019.
The new minimum capital requirement for life and non-life companies was increased from GH¢15 million to GH¢50 million and...