Insurance industry donates over GH¢1m to COVID-19 Trust Fund

By InstinctBusiness Apr 20, 20200

Players of the insurance industry in Ghana have made a total donation of GH¢1,105,000 to the Covid-19 Trust Fund.

This was in response to the clarion call made by the President, Nana Addo Dankwa Akuffo Addo, after he had established the Covid-19 National Trust Fund with the view of soliciting support from Ghanaians, as the country fights the coronavirus pandemic.

The donors comprising the industry’s key stakeholders led by its regulatory body, the National Insurance Commission (NIC), included the Ghana Insurers Association (GIA), the Insurance Brokers Association of Ghana (IBAG) and the Chartered Insurance Institute of Ghana (CIIG).

The rest are the Ghana Insurance College (GIC), the West Africa Insurance Companies Association (WAICA) [headquartered in Accra, Ghana] and the ECOWAS Brown Card Ghana Office.

The delegation led by the Commissioner of Insurance, Justice Ofori, also included the CIIG President, Rev. Asante Marfoh Ahenkorah; the IBAG President, Mrs Lena Adu-Kofi and the Director of the Ghana Insurance College (GIC), Richard Okyere.

Other members of the delegation were Deputy Commissioner of Insurance, Michael Kofi Andoh; second Vice-President of the GIA, Victor Obeng Adiyiah, and Chief Executive Officer of the ECOWAS Brown Card Office, Ghana, Mr Patrick Agyekum.

They indicated that this collective gesture was also triggered by the fact that as the main risk management machinery of the country’s economy, it was deemed necessary to support in the fight to protect its insureds and prospective ones, without whose existence the sector would be significantly affected.

Receiving the cheques presented variously to the Chairperson of the Fund, Madam Sophia Akuffo, expressed gratitude to the insurance industry for their thoughtfulness and commitment to support a worthy cause.

Donations into the Fund will, to a large extent, help in supplementing and complementing government’s effort in cushioning particularly the vulnerable in society, who may be affected by some of the tough measures outlined to deal with the pandemic.