Insurance Commission cautions public against unapproved ‘Akwaaba Insurance’

National Insurance Commission Logo of the National Insurance Commission

Wed, 26 Jan 2022 Source: www.ghanaweb.com

The National Insurance Commission (NIC) has pointed out that Akwaaba Insurance has not been approved.

Earlier this week, there were reports that by the end of the first quarter, all international travellers arriving in Ghana through the Kotoka International Airport (KIA) will be compelled to sign onto a compulsory insurance cover known as the ‘Akwaaba’ insurance policy.

Managing Director of SIC Insurance PLC, Stephen Oduro, in an interview with B&FT said a consortium of three Ghanaian insurance companies – State Insurance Company PLC (SIC), Enterprise Insurance and GLICO Insurance Company – will oversee the implementation of Akwaaba insurance policy.

“Per provisions of the policy, every traveller coming into the country will be required to purchase the insurance regardless of the duration of stay and nationality,” he indicated.

The NIC has entreated Ghanaians to disregard this report and desist from using their services because the insurance product is not approved.

In a statement sighted by GhanaWeb on Tuesday, January 25, it said, “It has come to the notice of the National Insurance Commission (NIC) that a publication on the above-mentioned product which is purported to be mandatory for all international travelers arriving in Ghana effective end of first quarter 2022 is being circulated.

“The NIC wishes to advise the general public that the said ‘Akwaaba Insurance’ has not been approved by the Commission and as such any publication to that effect should be disregarded.”

Read NIC's release below:.

Source: www.ghanaweb.com