Working group educates commercial property owners about fire insurance

Fire inspection

Officials from the National Insurance Commission (NIC), Ghana Police Service and Ghana National Fire Service have started a series of awareness raising and law enforcement to verify the validity of fire insurance on vehicles. commercial properties in parts of the Greater Accra region.

The team’s move is part of NIC’s efforts to ensure compliance with the requirements of Articles 218 and 219 of the new Insurance Law 2021 (Law 1061), which requires all commercial properties to be compulsorily insured.

NIC senior executive Mr. Charles Ansong Dankyi told GNA that Insurance Law 1061 (2021) under Sections 218 and 219 requires business entities to insure their properties whether they are under construction or completed.

He advised business owners to be interested in taking care of themselves, others and their wares, as a burnt down business premises could have several consequences on lives and livelihoods.

Compulsory property insurance is to provide financial protection against legal liabilities resulting from accidents that cause property damage, bodily injury or death to members of the public.

Mr. Ansong said that apart from the fire insurance which was covered, there remained other risks such as earthquake, flood, thunderstorm, among others, which were all covered by basic fire insurance.

The task force inspected a number of commercial buildings for their fire certificates in the enclave of Oyarifa and Ayi Mensah.

The team observed that around 25 commercial buildings did not have active insurance policies and received letters of compliance.

The owners of these commercial buildings, inspected at random, however, have been made aware to do the right thing in their own interests and in compliance with the law.

The task force will continue to visit the metropolitan and capital district business enclaves to intensify its outreach and law enforcement efforts.

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