NIC to roll out insurance programme for small and micro businesses

The National Insurance Commission (NIC) is to roll out an insurance programme to insure small-scale businesses to protect their businesses.

Dubbed ‘the Small and Micro Business Insurance Programme’, the national exercise, which would begin in the middle of May in Kumasi, is meant to interact with owners of Small and Micro Businesses and educate them on insurance and develop specific insurance products to meet their needs.

Michael Kofi Andoh, Deputy Commissioner of NIC, disclosed this in an interview with the Ghanaian Times after a meeting with celebrities, and said the move was to increase insurance uptake and penetration in the country.

The programme, dubbed National Insurance meets Celebrities (Social Influencers) was attended by a number of celebrities.

He said the exercise would begin from Kumasi in the middle of May and extended to other parts of the country.

Mr Ando said through interaction between owners of Small and Micro businesses and the various insurance companies that would take part in the programme, they would know the needs of participating businesses and develop insurance products that would help meet those needs.

The Deputy Commissioner of Insurance said insurance was crucial in managing and mitigating risks, and urged the individuals to buy insurance to protect their retirement and old age’s financial security.

Mr Ando also encouraged business owners to buy insurance to cover their businesses of risks, such as fire and unforeseen eventualities.

He also entreated the celebrities in the country to take up insurance to protect their lives and retirement income security, saying there were a lot of insurance products celebrities could sign onto to have a reliable income when they grow old.

He urged the celebrities to use their social influence to encourage their followers and the general public to take up insurance to protect their lives and loved ones.

Mr Andoh pledged NIC’s commitment to collaborating with the social influencers to educate the public on insurance to increase the uptake of insurances.