About Us

Departments

Office of the Commissioner

The Office of the Commissioner is responsible for the day-to-day administration of the Commission.

Apart from the Office of the Deputy Commissioner of Insurance and all the other major Departments which are headed by Senior Management Staff, there are three (3) key Units under the Office of the Commissioner. These are the:

Public Relations Unit:
This Unit is responsible for the broad communications and public affairs pertaining to the Commission and by extension the Insurance Industry. Under the direct supervision of the Commissioner of Insurance, the Unit is also responsible for events organisation, media relations, dissemination of information and publications in a timely manner. The Unit has the mandate for the development of public education materials including documentary videos and printed materials such as NIC Annual Reports, Journals and public notices, press releases in the media as well as general visibility. The Unit makes recommendations based on internal and external communication needs in a proactive manner.

Innovation Hub:
The Innovation Hub is responsible for the development and Management of internal digital solutions aimed at enhancing the operational efficiency of the NIC. It is responsible for the coordination and management of all its databases including the Motor Insurance Database. The Unit also assists in the evaluation of new innovations and technology solutions developed by regulated entities to ensure that there is sufficient comfort that these innovations do not expose the industry to.
Generally, it serves as the centre that leads and drives all innovations and digital solutions aimed at enhancing the efficiency of the NIC

Research Unit:
The Research Unit of the NIC was set up to undertake empirical and evidence-based research to complement the work of the various departments. It seeks to provide support for the supervisory and regulatory activities of the Commission. The Unit conducts research on pressing issues and identifies opportunities and ways of enhancing the image of the insurance industry in Ghana. Through its mandate, the Unit explores emerging facts, analyses relationships between various stakeholders, and identifies opportunities and challenges facing the industry.
As part of its core functions, there is an annual update of the perception, awareness and knowledge of clients and potential clients of insurance and the industry is updated accordingly.

Office of the Deputy Commissioner

The office of the Deputy Commissioner assist in the day-to-day administration of the Commission.

Supervision Department

The responsibilities of the Supervision Department include the following:

  • Licensing and renewals
  • On-site inspections
  • Off-site analysis
  • Product approvals
  • Reinsurance
  • Authorisations and Approvals
  • Actuarial Analysis
Actuarial Unit

The responsibilities of the Actuarial Unit include the following:

  • Review of Periodic Technical Prudential Reports eg FCRs, SDRs, Actuarial Valuation reports
  • Review of and approval of New Products
  • Prudential and Solvency Analysis
  • Assist the supervision team in financial and pre-Inspection analysis
Legal Department

The responsibilities of the Legal Department include the following:

  • Overseeing the Legislation and all legal matters
  • Management of all statutory funds and Committees under the Insurance Act
  • Complaints and Settlements
  • Public education
  • Regional Offices of the NIC
  • Legal enforcement of the Insurance Act and actions to rectify lapses brought to its attention by the public and/or by the Supervision Department
Finance Department

The responsibilities of the Finance and Administration Department include the following:

  • Accounts, planning & budgeting
  • Investments & treasury functions
  • Motor Insurance Sticker management and collections
  • Procurement & Stores
Human Resource and Administration Department

The responsibilities of the Human Resource and Administration Department include the following:

  • Human Resource Planing and Management
  • Employee Resourcing
  • Ensuring the existence of a peaceful Industrial Relations atmosphere
  • Security, Transport, & Maintenance
Marketing & External Relations Department

The responsibilities of the Marketing & External Relations Department include the following:

  • Development
  • Rental of Conference Facilities
  • International relations
Internal Audit Department

The responsibilities of the Internal Audit Department include the following:

  • Monitoring
  • Controls
Reinsurance / AML Department
Reinsurance Unit

The responsibilities of the Reinsurance Unit include the following:

  • Recommend the approval of annual treaty programmes
  • Recommend local capacities for the various classes of insurance business for the Ghanaian market
  • Vet applications for overseas reinsurance
AML Unit

The Unit is responsible for the following:

  • Enforcement of AML/CFT Laws and FATF recommendations
  • Monitoring AML/CFT compliance of regulated entities
  • On-site examination of AML/CFT activities of regulated entities
  • Off-site monitoring of AML/CFT activities of regulated entities
  • AML/CFT sensitisation and training programmes
I T Unit

The IT Unit is responsible for all technology related activities of the Commission.