The move to ensure that all goods imported into the country are insured will be effected following the signing of the Cargo Insurance Protocol.
This is according to the National Insurance Commission (NIC) which signed the agreement with the Ghana Shippers Authority and the Ghana Revenue Authority.
The commission believes this will boost growth in the marine insurance sector and also help the NIC achieve its aim of growing the sectors’ current gross premium income to ten billion Ghana cedis in the next three years.
“Section 37 of the Insurance Act requires all goods being imported into the country to be insured in the country. So far, it’s been difficult for the NIC alone to enforce that because you know we don’t control the imports or the entry point where these goods come in. We realize that we need to collaborate with stakeholders to be able to enforce that, so we have started discussions with our stakeholders in this regard.”