NIC improving verification of marine insurance at the ports – Commissioner

The National Insurance Commission (NIC), says it is collaborating with other insurance companies in the marine insurance sector to help check and certify insurance policies at the ports.

The Commission says this will help check the insurance on imported goods that come into the country.

Speaking to journalists, the Commissioner of the NIC, Justice Yaw Ofori, explained that the move will enable the Customs Division of the Ghana Revenue Authority, GRA, to verify marine policies in real-time to rake in the needed revenue for the state.

“We are expecting to move into other areas,” he said, adding that “goods imported into the country are required by law to have insurance on them”.

The main challenge, Mr. Ofori pointed out, was that the customs are unable to check and verify insurance, particularly marine insurance at the ports in real-time.

“So we are looking at having a software that will be available all over the country at the airports and the seaports so that the customs can check the authenticity of marine insurance produced at the ports”.

He was optimistic the move will allow the relevant state authorities to ensure compliance, and fine those who go contrary to the law.

He explained that the idea to move into marine insurance was developed after the country tested the Motor Insurance Database.

The Motor Insurance Database enables the police to check the authenticity of vehicle insurance stickers immediately, once the details are keyed into a database.