The National Insurance Commission (NIC) wishes to remind the public that it is required of all owners or occupiers of private commercial organisations to obtain the Compulsory Fire Insurance for commercial buildings both completed and under construction, as per Sections 183 and 184 of the Insurance Act 2006, (Act 724).
A private commercial building under the law includes: “Privately owned building to which members of the public visit for the purpose of obtaining educational or medical service, engaging in a commercial activity for the purpose of recreation or transaction of business”.
THE COMPULSORY INSURANCE WILL COVER THE UNDER-LISTED RISKS:
1. FIRE AND ALLIED PERILS (flood, earthquake, collapse of buildings, storm).
2. Legal liabilities of an owner or occupier of premises in respect of loss of or damage to property, bodily injury or death suffered by all users of the premises and third parties.
COMPULSORY FIRE INSURANCE CERTIFICATE
Certificate of Insurance with security features will be issued as evidence of the insurance and must be displayed at the insured’s premises. Owners or Occupiers of commercial properties must therefore insist on the issuance of the certificates.
FOR FURTHER DETAILS CONTACT:
• The National Insurance Commission: 0302 238300 – 1
• The Ghana Insurers Association Secretariat: 0302 251092 – 3
• All Non-Life Insurance and Broking Companies