The National Insurance Commission (NIC) has clampdown on some businesses in the Bolgatanga Municipality for non-compliance with the Mandatory Fire Insurance Policy for Private Commercial Buildings.
In a joint action by the Task Force of the NIC, Police and the Fire Service, 12 Private Commercial Buildings were visited, Friday in Bolgatanga.
In all, 4 schools and 8 Hotels were inspected by the National Task Force and Compliance Team. It emerged that 7 out of the 12 establishments visited had flouted the mandatory policy by failing to subscribe to either the Fire or Building Insurance.
The National Insurance Commission (NIC) was established to ensure effective administration, supervision, regulation and control the business of Insurance in Ghana.
Established under Insurance Act, 2006 (Act 724), NIC has the mandate to carry out functions which include licensing of entities, setting of standards and facilitating the setting of codes for practitioners.
Speaking to the press after the exercise, Chairman of the National Task Force and Compliance Team, Joseph Bento indicated that some more sensitization needs to be carried out on the Fire Insurance Policy since its mandatory for commercial buildings.
He added that Friday’s action was to ensure that Private Commercial Buildings Owners Insured their Assets and to be able to receive remittances in an event of a disaster.
7 persons were arrested and later released following the exercise for various offences including the breach of the Fire Insurance Policy.
By: Azongo Albert | A1RADIOONLINE.com | GHANA
