Insurers shoot down gov’t directive

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• KKD 11 years ago

  LOCAL OWNED INSURANCE COMPANIES ARE USELESS. THEY DO NOT PAY CLAIMS ON TIME AND LOOK FOR ALL KINDS OF EXCUSES TO DELAY AND AVOID CLAIMS. WHY SHOULD GOVT DO BUSINESS WITH SUCH COMPANIES. NIC SHOULD WAKE UP. NO WONDER ONLY 2% I ...
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  LOCAL OWNED INSURANCE COMPANIES ARE USELESS. THEY DO NOT PAY CLAIMS ON TIME AND LOOK FOR ALL KINDS OF EXCUSES TO DELAY AND AVOID CLAIMS. WHY SHOULD GOVT DO BUSINESS WITH SUCH COMPANIES. NIC SHOULD WAKE UP. NO WONDER ONLY 2% INSURE. NIC SHOULD PUBLISH EACH COMPANIES RECORD ON CLAIMS PAYMENTS AND TIME PERIOD TAKEN TO PAY CLAIMS

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• NK 11 years ago

  Claims management among the local insurers is a huge challenge because they probably do not have the capacity to compute the right premiums partly due to unprofessional competition. I witnessed the underwriting process of an ...
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  Claims management among the local insurers is a huge challenge because they probably do not have the capacity to compute the right premiums partly due to unprofessional competition. I witnessed the underwriting process of an event before the award of the a contract. It was bizarre and purely not based on any actuarial analysis. How many of these companies have actuarial departments not to talk people with even one paper. This mess will continue unless it is improved. The percentage might even decline soon.

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• Ghanababa! 11 years ago

  Why should a Government own an insurance company in this aged Ghana in the first place?

  Why should a Government own an insurance company in this aged Ghana in the first place?

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• Mjolinir 11 years ago

  The attempt by disgruntled insurers in Ghana to label the directive as illegal is simply ridiculous. The courts are open every working day people! Though I regard the action by the Government as high-handed and detrimental to ...
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  The attempt by disgruntled insurers in Ghana to label the directive as illegal is simply ridiculous. The courts are open every working day people! Though I regard the action by the Government as high-handed and detrimental to the development of the private insurance sector, I would advise the insurers to desist from a battle of wills, of sorts, with the state.
  Their efforts should be directed at correcting the fixed impression in the minds of the ordinary Ghanaian that money used in buying insurance is only going to finance cocktails and V8s. Grow your customer base and stop fighting over a market that is on its way to saturation.

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• Kweku 11 years ago

  local insurers are very unreliable. They do not like to pay claims and find all manner of excuses. Government is correct in not insuring with these companies. Why should the insurers be crying now when they know their service ...
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  local insurers are very unreliable. They do not like to pay claims and find all manner of excuses. Government is correct in not insuring with these companies. Why should the insurers be crying now when they know their service is so bad.

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