The lukewarm attitude by successive governments to insure state-owned properties should be a matter of concern to all Ghanaians, according to the Group Chief Executive of Hollard Ghana, Patience Akyianu.
For several years, appeals and petitions to governments to protect third parties through insuring public assets have proven futile.
It is estimated that the insurance sector could rake in billions of cedis if government properties are insured – a move expected to boost penetration of the sector significantly.
But according to the Hollard Group leader, not only is the dwindling penetration rate as a result of the situation a matter of concern, but the lives of innocent third parties are being taken for granted.
“You go into a government building for instance which is not insured and something happens to you and because of that you cannot claim, should you not be worried?” she said.
Mrs. Akyianu added, “it is not a matter for the industry, it is a matter for Ghanaians to be concerned about and for me, I think the conversations are in the right direction. So we all do the right thing.”
The situation puts occupants and others who transact business in such facilities at risk in the event of a disaster.
The National Insurance Act, Act 742 of 2006 as well as the new Act 2021 Act 1061 mandates all commercial building owners to insure such property.
Latest Stories
- Fuel prices to increase by 7%-13% from February 1, 2023 – IES
6 hours - Finance Minister may attempt to woo individual bondholders with new terms – Martin Kpebu
6 hours - Education Ministry cautions against payment of money for school placement
8 hours - Full list of winners at 47th SWAG Awards gala
9 hours - Playback: The Probe discusses Domestic Debt Exchange Programme
9 hours - Dr Ibn Kailan Abdul-Hamid appointed Head of UPSA’s Department of Marketing
9 hours - Debt Exchange Programme: Article 71 Office Holders must take a 50% haircut – Labour Federation
10 hours - CHAN 2022: CAF confirms change in kickoff time for final
10 hours - Newcastle sign Everton forward Anthony Gordon in £45m deal
11 hours - ‘We wanted a fresh start in 2023, but we have been worse’ – Klopp
11 hours - Brighton knock holders Liverpool out of FA Cup
11 hours - Moises Caicedo made ‘mistake’ asking to leave Brighton, says Roberto de Zerbi
11 hours - Pedri winner extends Barca’s La Liga advantage
11 hours - Chelsea sign teenage right-back Malo Gusto from Lyon in £31m deal
12 hours - Ghana signs agreements with Saudi Arabia on Hajj 2023
12 hours