The National Insurance Commission has expressed commitment to undertake aggressive regular education to boost insurance coverage in Ghana.
The move is to ensure that many individuals who lack the knowledge of the need to insure or invest in insurance do so.
Acting Commissioner of Insurance, Michael Kofi Andoh, said his outfit will do its utmost best to drive insurance penetration, admitting that the low education on insurance is partly to be blamed for the country's low insurance coverage.
He was speaking at the Joy Business/NIC Insurance Dialogue, a thought leadership programme.
“Insurance dwells a lot on education and people tend to buy or spend their monies on what they appreciate, understand and give value to them. So we need to educate the public on insurance. This is very important and the National Insurance Commission is doing a lot in this field which we’re intensifying moving forward”.
“You also know that we have a different segment of the population and various programmes are being developed for all these segments of the population,” he said.
The situation of low insurance coverage in Ghana has been a concern to stakeholders for some time now.
This is part of the reasons Joy Business is collaborating with the NIC to create a platform to provide more information on insurance to viewers and listeners.
Mr. Andoh also disclosed plans to start naming and shaming insurance firms and individuals that violate the laws as a deterrent to the industry players.
Latest Stories
-
NSMQ star Jochebed Adwoa Sutherland sweeps 12 awards at UG Vice-Chancellor’s Ceremony
23 mins -
Ghana’s Education Quality ranked 125 out of 183 countries in latest Global Youth Development Index
48 mins -
Emma Stone wants people to use her real first name
52 mins -
FIFA Club World Cup 2025: Sundowns, Esperance join Al Ahly and Wydad as CAF representatives
5 hours -
CAFCL: Al Ahly set up historic final with ES Tunis
5 hours -
We didn’t sneak out 10 BVDs; they were auctioned as obsolete equipment – EC
9 hours -
King Charles to resume public duties after progress in cancer treatment
9 hours -
Arda Guler scores on first start in La Liga as Madrid beat Real Sociedad
10 hours -
Fatawu Issahaku’s Leicester City secures Premier League promotion after Leeds defeat
10 hours -
Anticipation builds as Junior Speller hosts nationwide auditions
10 hours -
Etse Sikanku: The driver’s mate conundrum
11 hours -
IMF Deputy Chief worried large chunk of Eurobonds is used to service debt
11 hours -
Otumfuo Osei Tutu II celebrates 25 years of peaceful rule on golden stool
11 hours -
We have enough funds to pay accruing benefits; we’ve never missed pension payments since 1991 – SSNIT
12 hours -
Let’s embrace shared vision and propel National Banking College – First Deputy Governor
12 hours