The industry must prepare for a scenario where cargo War Risk premiums jump significantly if the blockade persists. For the Ghanaian underwriter, the risk is not direct damage to hulls, as our local fleet is largely restricted to domestic waters, but the liability associated with delayed, diverted, or "trapped" cargo. If vessels reroute around the Cape of Good Hope, the increased transit time could lead to complex claims regarding contract frustration or the deterioration o

The certification, completed after a rigorous assessment process, marks what the company describes as a significant milestone in its corporate governance and data protection journey. It places Enterprise among institutions aligning with global best practice in information security management, at a time when data protection and privacy have become critical pillars of corporate accountability and customer trust.

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

Preamble Bancassurance has notably grown in Africa and around the world since the 1980s by offering banks and other financial institutions (BOFIs) an opportunity to provide more diversified products to their customers, whilst earning additional income by providing their distribution channels and other platforms to insurance companies. Insurance companies, on the other hand, can have an increased reach to a broader audience and achieve more sales by leveraging the BOFIs’ distr

The government is poised to officially roll out the Free Primary Healthcare (FPHC) initiative on September 1, 2025. The flagship program is to guarantee all residents in Ghana, particularly the vulnerable populations, access to essential, affordable, and equitable healthcare services, a key step towards achieving Universal Health Coverage (UHC) by 2030. The National Health Insurance Authority (NHIA), Senior Director in charge of special initiatives, who serves as the FPHC Foc

The Ghana Revenue Authority has announced that the implementation of value-added tax (VAT) on the supply of non-life insurance services, in line with the Value Added Tax (Amendment) Act, 2023, Act 1107, commenced on 1 April 2025. Suppliers of non-life insurance services must register for VAT and charge the standard VAT rate on policy premiums, where the registration threshold is met. Affected insurers can claim input VAT on qualifying expenses related to providing taxable non

Insurance companies that fail to meet the new minimum capital requirement by May this year may have to sell off their companies or merge with others. This is according to the Commissioner of Insurance for the National Insurance Commission (NIC), Justice Ofori. The move follows a decision by the NIC to see to the recapitalisation of insurance companies in the country. Insurance penetration in Ghana has remained low for years, hanging at just around two per cent. The contributi

Parliament recently passed the Insurance Act, 2021 (Act 1061) to replace the Insurance Act, 2006 (Act 724) and to provide for the regulation and supervision of the insurance market. Act 1061 creates three main licence categories under which insurance businesses may operate: Insurance Licence, Reinsurance Licence and the new Innovative Insurance Licence. An Innovative Insurance business uses new financial technology or any other innovative technology or method in the insurance

Star Assurance Company Limited has appointed Boatemaa Barfour-Awuah as its news Chief Executive Officer. The new CEO will champion the development and enhancement of the company’s strategic plan for achieving results. She is recognised as seasoned insurance professional with a heightened ability to drive strategic initiatives in areas of business growth, business digitisation and organisational effectiveness. Boatemaa Barfour-Awuah began her career in the insurance industry a

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