In pursuit of fulfilling a statutory mandate of the National Insurance Commission by providing a sustained basic insurance education, Mr Justice Ofori says his outfit has in the last two years trained some 1,500 personnel from the Motor Traffic and Transport Division (MTTD) of the Police Service.
According to the Commissioner of Insurance, the education on basic insurance which has so far spanned across 8 regions of the country has also benefitted drivers’ union, market women, teachers, nurses and other corporate unions.
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“Over the last two years, the NIC has maintained a healthy relationship with the MTTD of the Ghana Police Service and in the past two years has trained about 1,500 police personnel in 8 regions on basic insurance and I am pleased to inform you that this engagement has resulted in police personnel who understand the basics of insurance bearing thereby leading to the smooth implementation of the law” he said.
Mr Justice Ofori made this known speaking at the launch of the Basic Insurance Education initiative for second cycle institutions in Accra on January 17.
He indicated, one of the objectives of the Basic Insurance Education, is to in the long run increase the contribution of insurance to the country’s Gross Domestic Product (GDP).
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“The Commission has identified low education on insurance as one of the factors for the current low penetration rate and this project is being pursued to provide the much need vehicle for an increase in insurance penetration in the country leading to a significant contribution to Ghana’s growth,” Mr. Ofori stated.
In 2019, Senior Minister, Yaw Osafo Maafo lamented at the insurance industry’s contribution of less than two percent of GDP.