Insurance Industry supports the COVID-19 Trust Fund

The Insurance industry in Ghana have made a total donation of One million one hundred and five thousand Ghana cedis (GHC1,105,000) to the COVID 19 Trust Fund.

This was in response to the clarion call made by the President of the Republic of Ghana, His Excellency Nana Addo Dankwa Akuffo Addo, after he had established the COVID 19 Trust Fund with the view of soliciting support from Ghanaians as the Country fights the Corona virus pandemic.

The donors comprising the industry’s key stakeholders led by its Regulatory body, the National Insurance Commission (NIC) included the Ghana Insurers Association (GIA), the Insurance Brokers Association of Ghana (IBAG), and the Chartered Insurance Institute of Ghana (CIIG).

The rest are the Ghana Insurance College (GIC), the West Africa Insurance Companies Association (WAICA) [headquartered in Accra, Ghana], and the ECOWAS Brown Card Ghana Office.

It is instructive to note that this collective gesture was also triggered by the fact that as the main risk management machinery of the Country’s economy, it was deemed necessary to support in the fight to protect its insureds and prospective ones without whose existence the sector would be significantly affected.

The delegation led by the Commissioner of Insurance, Mr Justice Ofori also included the President of the Chatered Insurance Institute of Ghana (CIIG), Rev. Asante Marfoh Ahenkorah, the President of (Insurance Brokers Association of Ghana (IBAG), Mrs Lena Adu-Kofi and Mr Richard Okyere, the Director of the Ghana Insurance College (GIC).

Other members of the delegation were Mr Michael Kofi Andoh, Deputy Commissioner of Insurance, Mr Victor Obeng Adiyiah, 2nd Vice-President of the GIA and Mr Patrick Agyekum, Chief Executive Officer of the ECOWAS Brown Card Office, Ghana.

Receiving the cheques presented variously to the Chairperson of the Fund, Madam Sophia Akuffo expressed gratitude to the insurance industry for their thoughtfulness and commitment to support a worthy cause.

Donations into the Fund will, to a large extent, help in supplementing and complementing government’s effort in cushioning particularly the vulnerable in society who may be affected by some of the tough measures outlined to deal with the pandemic.

The responses from corporate Ghana and some individuals have so far been encouraging.