[ 2021-02-12 ]

NIC Develops Compulsory Commercial Fire Insurance
The National Insurance Commission (NIC) has
indicated it is developing a database on
compulsory commercial fire insurance.

This came to light at a two-day training programme
for cadets of the Ghana National Fire Service
(GNFS) at the Fire Academy and Training School
(FATS) in Accra.

Aimed at creating awareness on insurance and its
related issues, the exercise saw participants
undergo training in basic principles of insurance,
fire insurance and risk management.

According to Justice Yaw Ofori, Commissioner of
Insurance, the training forms part of a structured
campaign by the NIC to create insurance awareness
among all security agencies and allied bodies.

“I am delighted about the prospects of this
training as it coincides with the development of a
database on Compulsory Commercial Fire Insurance
by the NIC,” he stated.

Dr. Ofori added that “when personnel of the Fire
Service are well educated on insurance, they can
also encourage others to appreciate the need for
insurance as a risk management tool.”

Director of the Ghana Insurance College, Richard
Okyere, disclosed that the college had so far
trained about 5,000 out of a targeted 10,000 since
the NIC started funding the training of the youth
as insurance agents in July 2019.

Such move, Mr. Okyere said, had created employment
in the insurance industry for many young people.

Commandant of FATS, ACFO, Gilbert Klutse, advised
the trainees to take advantage of the exercise in
order to serve as worthy ambassadors for insurance
protection, homes and corporate entities in the
course of their career.

“Whereas the GNFS is committed to sensitizing
the citizenry and protecting homes, businesses, as
well as other forms of properties against the
ravages of fire and other disasters, the insurance
industry which is regulated by the NIC provides
the needed shock absorbers to alleviate the
economic impacts of these incidents on victims, if
they do occur,” he acknowledged

Source - Goldstreet Business

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