Insurance Commission prepares paper on insurance of state buildings

The National Insurance Commission (NIC) is preparing a technical paper on the insurance of state premises.

This is at the instance of government.

Mr. Isaac Yaw Buabeng, Head of Marketing, Research and External Relations of the NIC said in Ho on Saturday.

He was answering questions at a workshop on “Compulsory Insurance of Commercial Buildings Including Those under Construction,” as provided in Act 724 of 2006.

Some participants wanted to know why government has made it compulsory for commercial premises to be insured when it has not insured its own premises.

A participant wondered how public sector workers would be compensated for injuries or death in case of fire or accident at the workplace when government has not insured those premises.

“Government should set the example to inspire us to do the same”, a participant interjected.

Mr. Buabeng said government was concerned about the spate of fires on some public buildings in recent times and the huge financial burden these entailed.

Mr. Buabeng said the implementation of the technical report requested by government would be of tremendous help in easing the financial burden it now assumed in such situations.

Mr. George Appiah Addae, Chief Operations Officer of Gemini Life Insurance Company (GLICO), who spoke on “Compulsory Fire Insurance”, explained that the Workmen’s Compensation took care of workers who got injured during the course of their work.

He said on the other hand, where a person who was not a government employee, should get injured in a fire or any other accident while on government premises, that person could sue government for compensation.

Mr. Addae said it was in the interest of those who own commercial premises, hire them or are contracted to work on them to obtain the compulsory insurance to ease the financial liability they might face in case any of their patrons or employees got injured or die through fire or other forms of accidents on their premises.

He explained that the compulsory commercial insurance would also help compensate those who might get injured, die or lose their property because of their nearness to the commercial premises where accidents such as fire might occur or in case such commercial buildings collapsed.