Campaign for building insurance intensified

Managers of Enterprise Insurance Company Limited have reiterated the need for both businesses and individuals to insure their buildings.

Their call was also to improve the insurance penetration in Ghana, which stood at 2% low.

According to the Head of Business Development, Phyllis Wood Nartey, her outfit will continue to engage with stakeholders on insurance education to improve the penetration rate.

Madam Wood Nartey said this at a stakeholder meeting with clients in Kumasi.

According to the National Insurance Commission (NIC), insurance penetration in the country at 2% is very low and worrying.

There have been several moves and initiative by the Commission to increase the penetration.

Enterprise Life Insurance has, therefore, been engaging clients and potential customers on the need to insure their property.

At a stakeholder’s meeting in Kumasi, Ashanti Region, managers of the company indicated that the drive was to increase the penetration by continuous education amongst the public.

Mrs Wood Nartey explained though… “It is a law that all commercial buildings must be insured, the uptake on commercial insurance was very low.

“Without us going into the various reasons that may account for that, as an insurance company, we believe that is the responsibility of the company and the industry to educate the clients so that they understand the benefit. It is one thing to enact a law and expect people to comply and another thing to understand the need for protection.”

The business development manager maintained that “whether there is a law or not they will go out themselves and take up the protection they need. That’s the reason we embarking on this education programme. The law just helps strengthens our hand but for us, the basic thing is that everybody should see and understand the need for protection.”

Participants were trained in fire safety measures at home and office while others took turns to ask questions and seek clarification on different insurance packages.

One participant told Luv News his impressions of the programme:

“I wanted to be a part of this programme because I ran a filling station. Since it’s a fire-prone business, I’ve come more to learn about fire and how to stop it when it happens at my place.

“And I think I’m very enlightened by what I have learnt this morning about how to get closer to fire using the CO₂ and the powder fire extinguisher to douse fire when there is an outbreak.”


Insurance with Kofi OWUSU TAWIAH


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