Shippers have been urged to adhere to the Insurance Act, 2021 (Act 1061) which mandates that, with the express exception of personal belongings, all goods being imported into Ghana must necessarily be insured in Ghana.
The National Insurance Commission (NIC’s) Senior Manager in Charge of Marketing and External Relations, Mr. Charles Ansong Dankyi revealed this during the Greater Accra Regional Shipper Committee Meeting (GARSC) for the fourth quarter of 2022.
The meeting, which took place on Friday 16th December 2022 at the Shippers’ House in Accra followed a request by members of the GARSC at their third quarter meeting that the NIC should be invited to clarify the protocol that governs the Marine Cargo Insurance Policy.
Mr. Dankyi emphasized the advantages of obtaining marine insurance locally, which include savings on foreign exchange, quick payment of claims, easy access to the insurer, value for money and convenience.
He stated that the NIC will step up its effort to facilitate the acceptance of the Local Marine Insurance policy by stakeholders in the shipping and logistics industries.
Mr. Dankyi further noted that, underwriting of cargo insurance will be done through the Insurers Portal; an electronic platform created by the NIC to facilitate the undertaking of local marine insurance. He added that the GRA will ensure the issuance of Cargo Certificate Insurance through the portal.
The Head of Shipper Services and Trade Facilitation at the Ghana Shippers’ Authority GSA, Mrs. Monica Josiah advised the importers to comply with the law on Marine Cargo Insurance in order to avoid sanctions by the NIC.
Members of the Committee thanked the GSA and the NIC for providing clarification on the very important issues pertaining to the Local Marine Insurance regime.