By Hannah Awadzi<\/p>\n
Accra, Oct. 19, GNA \u2013 Justice Kwasi Anin-Yeboah, Chief Justice of the Supreme Court, has urged judges in the country to expand their knowledge and understating of the new Insurance Act, 2021 (Act 1061).<\/p>\n
This comes after the repeal of the Insurance Act, 2006 (Act 724) which regulated the insurance industry for about 15 years.<\/p>\n
He said critically studying the new Act would ensure Judges of various courts properly applied and resolved cases related to insurance under the Insurance Act 2021 (Act 1061)<\/p>\n
In a speech read on his behalf by Justice Dennis Adjei, an Appeal Court Judge and Acting Director of the Judicial Training Institute, at the opening ceremony of the Nationwide Insurance Workshop for High Court Judges, which was organised by the National Insurance Commission (NIC), the Chief Justice reiterated the importance of understanding the new changes captured in the new Act.<\/p>\n
He said the new insurance law covers both statutory and common law regimes in addition to new charges introduced by the Act.<\/p>\n
\u201cAs judges, we are mandated to resolve all disputes and legalities that may come before us under the Act, and we should be able to resolve them in accordance and purpose for which the Act was enacted,\u201d Justice Dennis Adjei said.<\/p>\n
\u201cWe as judges must understand the what the Act seeks to address and apply the Act to promote the interests of stakeholders in the insurance industry, particularly the citizenry,\u201d he added.<\/p>\n
He explained the Insurance Act, 2021 (Act 1061) comprises 261 sections which covers different aspects of insurance.<\/p>\n
These, according to him include solvency and capital requirements, transfers and mergers, licensing, statutory deposits, mediation of complaints, whistle blowing, financial provisions, among others.<\/p>\n Justice Dennis Adjei further called on the insurance regulator; NIC to ensure the workshop and sensitisation exercise on the new Insurance Act is extended to magistrates, circuit and district court judges across the country.<\/p>\n For now, the insurance workshop is targeted at Judges of the High Court, Appeal Court, and Supreme Court of Ghana.<\/p>\n Dr. Justice Ofori, Commissioner of Insurance, said the Ghana Insurance College (GIC) will soon begin engagements with the Judicial Training Institute to incorporate Alternative Dispute Resolution (ADR) into the College\u2019s training modules.<\/p>\n \u201cThis is to inculcate good negotiation and other ADR skills in insurance practitioners themselves in order not to impede amicable settlement of insurance cases, thus reducing insurance-related litigations,\u201d Dr Ofori said.<\/p>\n GNA<\/p>\n![\"\"](\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/10\/National-Insurance-Commission-New-Act-2.jpg\")
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