The insurance industry has joined the nationwide flood aftermath cleanup exercise, assuring insured victims of prompt compensation while urging more Ghanaians to embrace insurance as a means of protecting themselves against unforeseen disasters.
Speaking during the clean-up exercise, the Commissioner of Insurance at the National Insurance Commission (NIC), Dr. Abiba Zakariah, said the industry’s role goes beyond paying claims, stressing the importance of helping individuals and businesses prevent and prepare for potential losses.
“We have a job to help people to protect them when they suffer a loss, but most importantly also to guide them so that they don’t even suffer the loss in the first place,” she said.
Dr. Zakariah disclosed that insurance companies are setting up special desks to assist flood victims with claims processing, assuring policyholders that compensation would be provided quickly to enable them recover and rebuild their lives.
“For those who are insured, we are setting up special desks so that they can come to us and we can respond quickly to them.
We will compensate and the compensation will come quick and fast enough so that they can recover their lives and move on,” she stated.
She also appealed to Ghanaians who do not have insurance coverage to reconsider their position, explaining that insurance is not only for people with financial means but a collective protection mechanism.
According to her, insurance allows individuals to contribute small amounts towards a system that provides support when unexpected events occur.
The Commissioner encouraged the public to adopt a more proactive approach to risk management, particularly following the devastating floods recorded on June 29.
Meanwhile, the Managing Director of Ghana Reinsurance PLC, Seth Kobla Aklasi, dismissed the perception that insurance companies delay or refuse to pay claims, saying the industry is now focused on improving the speed of claims settlement.
“These days people think that insurers don’t pay claims but then it’s the fact that insurers are competing rather on who pays their claims as quickly as you put in the claim,” he said.
Mr. Aklasi encouraged property owners to insure their homes and businesses, noting that insurance premiums are often more affordable than many people assume.
He explained that a property valued at GHS1 million could be insured for about GHS2,000 annually, providing financial protection against damages such as flooding and structural losses.
The insurance industry also announced plans to activate corporate social responsibility initiatives to support communities affected by the floods.
The Managing Director and Chief Executive Officer of Impact Life Insurance, Gideon Ataraire, said the floods should serve as a reminder for individuals, organisations and government to prepare ahead of future disasters.
He urged communities and businesses to prioritise regular cleaning exercises and direct support towards vulnerable groups in their areas of operation.
