Officials of the National Insurance Commission (NIC), the Ghana Police Service and the Ghana National Fire Service have commenced series of sensitization and enforcement of the law to check the validity of fire insurance on commercial properties in parts of the Greater Accra Region.
The team move, is part of efforts by the NIC to ensure compliance with the requirements of Sections 218 and 219 of the new Insurance Act 2021 (Act 1061), which requires that all commercial properties are compulsorily insured.
Mr. Charles Ansong Dankyi, a Senior Manager at the NIC, told the GNA that the Insurance Act 1061 (2021) per Sections 218 and 219 makes it compulsory for business entities to insure their properties be they under construction or completed.
He advised business owners to be interested in taking care of themselves, third parties and their wares, since a burnt-up business premises could have several consequences on lives and livelihoods.
The compulsory property insurance is to provide financial protection against legal liabilities arising from accidents that cause property damage, bodily injury or death to members of the public.
Mr. Ansong said that apart from fire insurance that was covered, there remained other perils such as earthquake, flood, thunderstorm among others which were all covered under basic fire insurance.
The Task Force inspected a number of commercial buildings for their fire certificates within the Oyarifa and Ayi Mensah enclave.
The team observed that about 25 commercial buildings did not possess active insurance policies and have been served with letters to comply.
Owners of these commercial buildings, which were randomly inspected were however, sensitized to do the right thing in their own interest and in compliance with the law.
The Task Force will continue to visit the metropolitan and district business enclaves of the capital to intensify its sensitization and enforcement drive.