GSA and NIC hold sensitisation forum on Cargo Insurance Draft Protocol

Accra, Feb.14, GNA - The Ghana Shippers Authority (GSA) in collaboration with the National Insurance Commission (NIC) has held a sensitisation forum for insurance companies and brokers.

It was to elicit their views on a draft protocol for the placement of Cargo Insurance locally.

The forum forms part of stakeholder engagements to finalise the Cargo Insurance placement protocol for implementation.

The Chief Executive of the GSA, Ms Benonita Bismarck, underscored the importance of implementing the protocol for shippers in Ghana.

She noted that the implementation of the protocol would ensure that shippers in the country have a stake in selecting their preferred insurance companies for doing business with.

The protocol would also contribute to improving doing business through relatively low premiums, prompt payment of claims, among others.

The Head of Freight and Logistics Department of the GSA, Mr Fred Asiedu-Dartey, who deputized for the GSA's CEO, assured the stakeholders of the Authority's commitment to ensure that cargo insurance was procured locally.

The Deputy Commissioner of the NIC, Mr Michael Kofi Andoh, took participants through the draft protocol detailing the legal framework and benefits to insurers, shippers and the economy.

He appealed to the insurance industry to make sure that shippers get value for money when they place insurance for their import or export cargo.

The forum provided opportunity for further inputs from key stakeholders like the insurance companies and insurance brokers.

Mrs Gertrude Ohene-Asienim, the Chairperson of the Institute of Chartered Ship-brokers (West Africa) and a Technical Partner for the Project, explained the rationale for insurance companies to build the necessary capacity, both financial and technical to ensure quality marine insurance products for the benefit of shippers.

GNA