Insurance penetration in Ghana still remains relatively low
Mrs Cynthia Kwarteng Tufuor, SIC Insurance PLC Area Manager Tema stated that in view of recent and past fires, the company had developed fire policy for the individual and organizations to ensure that in case of any misfortune, they were not unduly disadvantaged.
She said SIC Insurance had rolled out innovative fire insurance package which gave the insured financial protections.
She said: “The individual need Fire Insurance as protection against property including buildings, household goods and personal effects, and the Organization including; Commercial and Industrial entity could insure its buildings, plant, machinery and equipment, stock of raw materials, finished goods and profits”.
Mrs Tufuor who has oversight duties over parts of Volta and Eastern Regions stated at the eighth: “End of Month Stakeholder Engagement and Workers Appreciation Day,” seminar organized by the Ghana News Agency Tema Regional Office which is a platform rolled-out for state and non-state actors to address national issues.
The event also served as a motivational mechanism to recognize the editorial contribution of reporters towards national development in general and growth and promotion of the Tema GNA as the industrial news hub.
Mrs Tufuor who spoke on the topic: “Fire and Homeplus” said SIC has innovative policies including domestic fire policy for private premises which is a standard Fire Policy which pays for loss of or damage to insured items as a result of Fire, Lightning and Limited explosion as well as explosions from boilers used for domestic purposes.
She said the Commercial Insurance Fire covered the buildings, plant, machinery and equipment, stock of raw materials, finished goods and profits; Business Interruption or loss of profits insurance focuses huge Industrial and Commercial concerns which could be extended to cover consequential loss or Loss of Profits upon request.
Mrs Tufuor said the home package policy for house owners is a specially packaged policy that combined both Fire and Allied Perils and Burglary Insurance for House Owners who lived in their own houses at a moderate price.
Mr Francis Ameyibor, Tema Regional Manager of the GNA explained that the stakeholder engagement was an effort to expand the frontier of journalism.
He said “the Tema Office had adopted the tenets of advocacy journalism hence the need to collaborate and partner state and non-state institutions through weekly and monthly events to serve the state better.
“We also use the platform to deepen the working relations with the stakeholders to ensure that both the media and the corporate world work together towards national development”.
Mr Ameyibor said the event also served as a motivational mechanism to recognize the editorial contribution of reporters to the professional growth and promotion of Tema GNA as the industrial news hub, while contributing to national development in general.