The National Insurance Commission (NIC) is debunking claims a good number of its members are in dire financial straits and cannot meet client obligations.
Commissioner of Insurance, Justice Yaw Ofori through a signed statement assured the public that the commission runs a bureau which takes complaints, investigates and resolves disputes between clients and the insurance companies if clients reckon they have been given a raw deal.
Mr. Justice Ofori however urged right thinking members of society to disregard spurious claims against some of the insurance companies as they lack merit adding with happenings in the financial sector involving the folding up of some banks, the commission has of its own accord put in structures to ensure professionally run entities which safeguard funds of clients.
He nonetheless warned those behind malicious and injurious statements on social media to expect to be dragged through the law courts if fished out.
The commission can be reached on telephone numbers: +233 302 238300/238301 while others can visit their website www.nicgh.org for enquiries and further insights.
Insurance companies pool money to pay claims. The also pay for expenses involved in selling and providing insurance protection while they also invest money. Earnings from investments help keep down the cost of insurance to policyholders. It is also a financial product sold by insurance companies to safeguard policy takers’ property against the risk of loss, damage or theft such as flooding, burglary or an accident.