Africa-Press – Ghana. Implementation of the national marine insurance protocol is expected to begin on Sept 1 2022, and shippers are being assured of reliable insurance cover on their cargoes by local insurers.
It would be recalled that the Ghana Shippers’ Authority (GSA), Ghana Revenue Authority (GRA) and the National Insurance Commission (NIC) signed the Marine Cargo Insurance Protocol in December 2020.
The protocol is to ensure adherence to the Insurance Act.2006 (Act 724), which requires that with the express exception of personal belongings, all goods being imported into Ghana must necessarily be insured in Ghana.
However, as it stands, it is unclear when it will be mandatory for shippers to only insure with local companies. Speaking on Eye on Port, the General Manager Technical at Serene Insurance, Michael Dodzi Agbleke said his company is ready to take up the demand for local marine insurance.
He stated that Serene Insurance has more than necessary financial muscle to meet the minimum requirement allowed for marine insurance in the country; and with the support of reinsurance partners, clients should be guaranteed of reliable insurance cover on their goods.
Mr. Agbleke added that, “I will advise every importer to take institute cargo clause A cover. We also have a customized package. At Serene, we have added extensions, that includes the port of departure to warehouse to port of arrival to warehouse of consignee. This is unique to us.”
He said the National Insurance Commission has ensured that rates are competitive and in the interest of the shipping community. Contributing to the subject, the Executive Director of the Centre for International Maritime Affairs (CIMAG), Albert Derrick Fiatui expressed pleasure for the protocol, but called for more sensitization of the shipping community.
He explained that majority of the trading public do not understand the intricacies of this protocol and view it as another added cost to business, and it is upon the regulators to increase sensitization to disabuse this notion. Pix: General Manager Technical at Serene Insurance, Michael Dodzi Agbleke
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