The Finance Minister has asked insurance companies to do more to ensure their services are available to people living in rural areas. Dr. Kwabena Duffuor says the unavailability of insurance products in such areas means the agricultural sector which sustains the economy is deprived of industry’s services. “If we say over 60 percent of our people are engaged in Agriculture, and until now there is no insurance product available for this critical sector of our economy, then I can say that there is a big gap in our product design that must engage the attention of all of you,” he indicated. “Secondly, when bankers shy away from microfinance and SMEs face serious challenges, it’s because of the absence of micro insurance; the two should work hand-in-hand,” he stressed. The Finance Minister was speaking at a meeting of West Africa Insurance Companies (WAICA) in Accra on how they can best exploit the oil and gas discovery to the benefit of Ghana and other African countries. Newly elected president of the association William Agbenyega in an interview with Joy Business said a communiqué will be released to assist insurance companies in their operations. The conference is drawing participants from five other West African countries including the Gambia, Liberia, Nigeria and Sierra-Leone. Meanwhile SIC Insurance says it will soon introduce a product that will enable more people, especially low income earners, take advantage of the benefits of insurance. According to the Managing Director of SIC Insurance, its micro insurance scheme is important now because fire outbreaks are becoming a regular occurrence. Ben Acolatse, who was speaking in an earlier interview with Joy Business, said low income earners are particularly vulnerable because they are the ones who suffer most in such instances and yet are of the opinion that insurance is expensive. Source: Joy Business/Myjoyonline.com/Ghana