NIC calls on Government to insure important state assets

20 January, 2020

The National Insurance Commission has reiterated calls for government entities to prioritize the insurance of key state properties and assets to avoid spending unbudgeted amounts in time of disasters.

The comments follow the recent destruction of some dormitories of Accra Academy– Alema and Halm-Addo halls –by fire.

Speaking to Citi News on the sidelines of the launch of the Basic Insurance Education in Second Cycle Schools, the Commissioner of Insurance, Justice Yaw Ofori said the insurance of public infrastructure can go a long way to provide some financial cushion to government in times of disasters.

“I think it is a lesson and the Minister for Education representative just said that it is so sad that we don’t factor insurance into their budgeting. And this is something they are going to look at because right now the government will have to go and look for money from somewhere to actually refurbish the damages.

If they had insurance, they will have had a backbone to fall on. So, it is a lesson for all institutions and government agencies,” he said.

By City News , Accra

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