Insurers nervous about fires

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• Wilson Addo 11 years ago

  The insurance companies need to form a task force comprising of former law enforcemnent officers and firemen to painstakingly conduct investigation of every fire occurence. Education should be number one priority. FBI and N ...
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  The insurance companies need to form a task force comprising of former law enforcemnent officers and firemen to painstakingly conduct investigation of every fire occurence. Education should be number one priority. FBI and NYPD both have top experts in fire investigations and I am urging the industry to approach them for help. I am also hoping Ghana Government does the same. WA

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• Augustine Addo 11 years ago

  Yes, the Insurance Practitioners need to site down as a matter of urgency to consider the fire rating before the unexpected happens.

  Yes, the Insurance Practitioners need to site down as a matter of urgency to consider the fire rating before the unexpected happens.

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• Unumi Bununya a.k.a Teteman Boy 11 years ago

  Insurers companies must always think of the worst case scenarios. But it looks in this case like Ghanaian insurance companies are rather thinking of least case. This is the very reason that insurance companies themselves obta ...
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  Insurers companies must always think of the worst case scenarios. But it looks in this case like Ghanaian insurance companies are rather thinking of least case. This is the very reason that insurance companies themselves obtain reinsurance. Secondly premiums are not free money waiting to be paid out as salaries, bonuses and dividends. There is a certain threshold of cash that any serious-minded insurer is required to keep. In Ghana the best near-money holdings are the T-Bills. Such cash continues to earn interest and remains a safe way to keep the insurance companies liquid as well. Any additional investements by insurance companies should be in areas that conversion to cash is not cost prohibitive. That is how insuramce must be run. Period.

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