The meeting at the Shippers’ House came after members of the GARSC requested that the National Insurance Commission (NIC) be invited to clarify the protocol that governs the Marine Cargo Insurance Policy at their third quarter meeting.
Mr Charles Ansong Dankyi, Senior Manager in Charge of Marketing and External Relations at the National Insurance Commission (NIC), has urged shippers to follow the Insurance Act and ensure the localization of their imports.
Mr Dankyi emphasized the benefits of obtaining marine insurance locally, such as foreign exchange savings, quick payment of claims, easy access to the insurer, value for money, and convenience.
According to him, the Act requires that, with the exception of personal belongings, all goods imported into Ghana be insured in the country.
He stated that the NIC would increase its efforts to ensure that the Local Marine Insurance policy is accepted by stakeholders in the shipping and logistics industries.
Mr Dankyi also stated that cargo insurance would be underwritten through the Insurers Portal, an electronic platform developed by the NIC to facilitate the provision of local marine insurance.
He also stated that the GRA will ensure that Cargo Certificate Insurance is issued through the portal.
Mrs Monica Josiah, Head of Shipper Services and Trade Facilitation at the Ghana Shippers’ Authority (GSA), advised importers to follow the law on Marine Cargo Insurance in order to avoid NIC sanctions.
Members of the Committee expressed gratitude to the GSA and the NIC for providing clarification on critical issues relating to the Local Marine Insurance regime.