GSA and NIC hold sensitization forum for insurance industry stakeholders

The Ghana Shippers Authority (GSA) in collaboration with the National Insurance Commission (NIC) have held a Sensitization Forum on Thursday, 13th February 2020 for insurance companies and brokers. It was to elicit their views on a draft protocol for the placement of Cargo Insurance locally.

The forum forms part of stakeholder engagements to finalize the cargo insurance placement protocol for implementation.

The Chief Executive of the GSA, Ms Benonita Bismarck, in her remarks underscored the importance of implementing the protocol for shippers in Ghana. She noted that the implementation of the protocol would ensure that shippers in Ghana have a choice in selecting their preferred insurance companies for doing business with. The protocol would also contribute to improving the ease of doing business through relatively low premiums, prompt payment of claims and among others.

Making the remarks on behalf of the Chief Executive, the Head of Freight and Logistics Department of the GSA, Mr. Fred Asiedu-Dartey assured the stakeholders of the GSA’s commitment to ensure that cargo insurance is procured locally.

The Deputy Commissioner of the NIC, Mr. Michael Kofi Andoh, took participants through the draft protocol detailing the legal framework and benefits to insurers, shippers and the economy. He appealed to the insurance industry to ensure shippers get value for money when they place insurance for their import or export cargo.

The well attended forum provided opportunity for further inputs from key stakeholders like the insurance companies and insurance brokers.

Mrs Gertrude Ohene-Asienim, the Chairperson of the Institute of Chartered Shipbrokers (West Africa) and a technical partner of the project explained why it was important to ensure that insurance companies built the necessary capacity, both financial and technical to ensure quality marine insurance products for the benefit of shippers.