The State Insurance Company (SIC) has unveiled a new insurance product christened the “Akwaaba Insurance Policy” to provide medical care and other related medical emergencies to travelers visiting Ghana.

Ghanaians abroad who are visiting the country could also take the policy as an alternative to the National Health Insurance Scheme.

The policy, which is first of its kind in the country, covers medical expenses, hospital stay benefits, personal accident, medical repatriation and other emergency expenses, baggage loss and personal liability.

The policy, which covers the geographical boundaries of Ghana only, would be available at embassies, foreign missions as well as online.

Mr. Akwasi Osei Adjei, Minister-designate for Foreign Affairs, Regional Cooperation and NEPAD, said the introduction of the product was timely as it had come at a time that many tourists were visiting the country.

“There is nothing traumatic than falling sick or being injured in a foreign land, especially when one’s resources are limited,” he noted.

He said government, recognising the enormous role tourism played in the development of the economy, had created a policy framework and strategies to boost the sector and create conducive environment.

Mr. Adjei said the harbours had been modernized, road and railway infrastructure revamped to provide strategic link with neighbouring countries and the Kotoka International Airport had been expanded to provide interlocking services for transit flights and financial intermediation services.

He said the strategic measures were to ensure the target of about one million tourists annually, adding that in the last five years inflow from tourist business investment had increased remarkably.

Mrs Josephine Amoah, Commissioner of Insurance, National Insurance Commission, who launched the product, said corporate governance guidelines were being prepared to ensure that insurance companies were given proper direction and focus.

“Strong internal controls and risk management practices have been put in place,” she said.

Insurance companies are also expected to operate in line with business plans approved by the commission.

Source: GNA