NIC registers 23 insurance companies in Kumasi

Kumasi, May 26, GNA - The office of the National Insurance Commission (NIC) in Kumasi has registered 23 insurance companies in the Kumasi metropolis in its efforts to ensure sanity in the insurance industry.

Mr Leshie Sackeyfio, Officer in-charge of NIC in the Ashanti Region made this known in an interview with the Ghana News Agency in Kumasi at the weekend. He said NIC was an organization set up by an Act of Parliament in 1998 to regulate the conduct of insurance business, monitor and issue licenses for operators to protect policyholders. Mr Sackeyfio also said it was the responsibility of the Commission to sensitise the people to know their rights and responsibility on insurance related issues.

He advised the public and business community to report accident cases to insurance companies at all times for them to pay their claims to them.

He stressed the need for the public and business community to deal with only registered insurance companies and other intermediaries, adding that when in doubt they could also check the status of the companies from the office of NIC. He expressed concern about the increasing number of the third party motor insurance claims cases in the Kumasi metropolis and attributed that to the increase of road accidents on the roads.