The National Insurance Commission (NIC) wishes to inform all motorists that effective January 1, 2026, the Ghana Card would become a mandatory requirement when purchasing or renewing any motor insurance policy. Corporate clients are also required to provide their Tax Identification Number (TIN) when completing motor insurance transactions. This initiative would help: Improve claims handling Strengthen Know-Your-Customer (KYC) & Anti-Money Laundering (AML) compliance Reduce fr

Globally, many companies have been affected by significant business declines or closures due to coronavirus measures implemented by state governments and organisations. This has resulted in great financial losses for many industries and companies. In order to deal with this, some companies have tried to rely upon their Business Interruption ( BI ) insurance to cover their loss of revenue. The economic consequences of the COVID-19 pandemic on businesses have been dire, to sa

The Commissioner of Insurance, Mr Justice Ofori, has advised Chief Executive Officers (CEOs) and Chief Finance Officers (CFOs) of...

Two subsidiaries of the Enterprise Group have demonstrated leadership once again with a sterling performance at the 2020 Ghana Insurance...

Insurers are creating products for a world where virus outbreaks could become the new normal after many businesses were left out in the cold during the COVID-19 crisis. While new pandemic-proof policies might not be cheap, they offer businesses from restaurants to film production companies to e-commerce retailers ways of insuring against disruptions and losses if another virus strikes. The providers include big insurers and brokers adding new products to existing coverage, as

SIC returns to the top whiles Hollard moves from fifth to third. In creating a new world of opportunity for individuals, businesses and the society, insurers can no longer move of the same traditional products and services, and expect to succeed. Customers, investors, and employees demand innovation from insurance companies. It is only by recognizing opportunities and challenges, and responding quickly that insurers will continue to be competitive. In the past decade, SIC ins

What the public must know. The National Insurance Commission has directed all insurance companies to impose limits on Third Party...

You might assume that buying a comprehensive insurance policy for your car means there will be no out-of-pocket expenses. Sadly, you are mistaken. There are rules, limitations and conditions within the policy that will decide your final claim amount. The first motor car to appear on a British road was a Benz in 1894. According to law, the vehicle was not to operate on a public road with a speed exceeding 5km per hour. A man had to carry a red flag and walk in front of the car

In a country that can feel increasingly troubled and uncertain, a robust and trusted insurance sector provides valuable bedrock of...

The Supreme Court of Ghana, by a majority decision, ruled on November 21, 2018 that an Insurer (Insurance Company) is not entitled to...