Star Micro-insurance pays Kantamanto fire victims more claims

Star Microinsurance Company has again presented a cheque -- for GH¢235,000 -- as claims to the second and final batch of victims of the Kantamanto and Agbogloshie fire outbreaks which claimed the property of traders at the market.

It is recalled that last Month, (Friday, 17th May, 2013), Star Microinsurance presented GH¢115,000 to the first batch of the victims.

In all, over 230 people were affected by the fire. The claims were paid to the victims through ADVANS Ghana Savings and Loans. Apart from payment of outstanding loans plus one month interest, all the individuals who were affected by the fire were given a token GH¢200 by Star Microinsurance.

Making the presentation, the Head of Operations of Star Microinsurance Mr. Solomon Larbey said, these payments to the victims of the fire were possible because of the special insurance arrangement ADVANS Ghana Savings and Loans has embedded into the loans they give out. He therefore advised the traders to ensure they take loans from institutions that have such insurance arrangements in place, and also advised financial institutions to have such arrangements in place so as to protect themselves and their clients should such unfortunate incidents like death, fire and allied perils occur.

Mrs. Barbara Odei, the Chief Operating Officer of ADVANS Ghana Saving and Loans Company, on her part sympathised with the traders and advised them to deal with credible institutions like ADVANS Ghana Saving and Loans -- which has them at heart and is always ready to assist them in times of difficulties. She again said if they want good loans and also a place to save their money, only one institution should come to mind -- that is, ADVANS Ghana Saving and Loans since its policy is to grow together with its customers.

The traders who benefitted from the insurance claims from ADVANS Ghana and Star Microinsurance showed gratitude to the institutions for coming to their aid in these difficult times. They were happy that Star Microinsurance and ADVANS could do such a thing to alleviate the difficult situation, and urged their colleague market-men and women to patronise loans from ADVANS and Star Microinsurance policies -- especially the credit life protection policy, which gives protection to the loan beneficiary (death), the business property (fire and allied perils) and hospitalisation cover.