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Security Agencies Must Take Training on Insurance As a Risk Mgt Tool Seriously- NIC

February 6, 2021
thevaultzby thevaultz
in Insurance
0
NIC is solidly behind the banks and insurance companies with any good bancassurance product- Dr. Justice Ofori

Mr. Justice Ofori, The Commissioner of Insurance.

The Commissioner of Insurance, Dr. Justice Yaw Ofori has charged Security Agencies to assiduously follow training programmes on insurance and risk management being organised by his outfit to equip them in the performance of their duties. 

According to Dr. Justice Yaw Ofori, when these Security personnel’s are well educated on insurance, they can impart this knowledge and encourage others to appreciate the need for “insurance as a risk management tool”.

The NIC Commissioner made these comments while speaking at the commencement of the training programme for some Fire Service Officer Cadets at the Fire Academy and Training School (FATS) in Accra. Also, the training which has been factored into the course structure for Fire Service Trainees centred on the Basic Principles of Insurance, Fire Insurance and Risk Management.

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This is likely to boost insurance coverage in the country as insurance penetration rate remains minimal, lingering around 1 percent.

The training forms part of the Commission’s structured campaign to create insurance awareness and it’s an on-going campaign across all other Security Agencies and allied bodies.

As the supervisory and regulatory body of all insurance entities in Ghana, the NIC has for some time now championed the training of key categories of personnel as part of the Commission’s mandate of making everyone aware of the needs and benefits of insurance through its instituted Insurance Education Fund.

 “The commencement of this training is a continuation of series of insurance training programmes outlined and targeted at not only the Security Agencies but also other allied agencies. This has the objective of providing insurance protection for all lives and properties. 

“I am delighted about the prospects of this training as it coincides with the development of a database on Compulsory Commercial Fire Insurance by the NIC. This training is also expected to equip you in basic principles of insurance with focus on areas such as Fire Insurance and Risk Management,” Dr. Ofori remarked.

NIC


Mr Richard Okyere, the Director of the Ghana Insurance College, sharing his thoughts disclosed that the College which is the main training arm of the Insurance Industry has so far trained about 5,000 out of a targeted 10,000 since the NIC started funding the training of the youth as Insurance Agents in July 2019. 

This move has created employment in the insurance industry for many young people, he added.

The Commandant of the Fire Academy and Training School, ACFO Gilbert Klutse advised the Officer Cadets’ Trainees, most of whom are already in the Service, to take advantage of the training in order to serve as worthy Ambassadors for the insurance protection of lives, homes and corporate entities in the course of their career.

“Whereas, the [Ghana National Fire Service] GNFS is committed to sensitizing the citizenry and protecting homes, businesses, as well as other forms of properties against the ravages of fire and other disasters, the insurance industry which is regulated by the National Insurance Commission (NIC) provides the needed shock absorbers to alleviate the economic impacts of these incidents on victims if they do occur,” he opined.

Finally, ACFO Klutse expressed his gratitude to the Commissioner of Insurance, Dr. Justice Yaw Ofori for his passionate interest and presence at the launch of the training.

Tags: Fire Academy and Training School (FATS)Ghana Insurance CollegeGhana National Fire ServiceInsuranceInsurance sectorNational Insurance CommissionNational securityRisk management
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