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    Gold-for-oil: Govt spent $40m on first consignment – NPA

    Encourage China to support Ghana’s debt restructuring – Akufo-Addo to Germany

    Government to securitize $3.3bn in Central Bank loans

    Ghana withdraws $672m back-tax demand from MTN Group

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    Deadline for debt exchange program moved to February 7 with new terms

    Government finally makes progress on Debt Exchange Program

    Policy Rate increased by 100 basis points; now at 28%

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    Gold-for-oil: Govt spent $40m on first consignment – NPA

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

  • TECHNOLOGY

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

    Telcos ready to begin deactivating unregistered SIMs – Chamber of Telecommunications

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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

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Insurance companies to boycott high risk areas

bycitibusinessnews
March 15, 2016
in Business, Local Economy, Top Stories
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Insurance firms have cautioned of plans to shy away from insuring businesses situated in flood prone areas and market centers with inaccessible routes describing them as high risk areas.

[contextly_sidebar id=”YLi892PiSsINieHxgIaPaWFnl8RynrlD”]Concerns have been raised over the need to insure market centres to provide relief to businesses who fall victim to fire outbreaks in those places.

Some have also called for insurance companies to move away from insuring clients situated in vulnerable areas citing them as having huge impacts on the operations of insurance companies.

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The Managing Director of Nsia Insurance, Mabel Porbley however tells Citi Business News insurance firms will have to realign their operations to cope with the high risks businesses.

“What again we need to do is to look at this space critically and assess. Sometimes there are really no risk management issues because there is wrongful wiring of electricity connections, cooking and they are wooden spaces, and you cannot tell them not to cook because you want to cover them. So we will just continue to assess them and the risks that we will cover, why not, we will get them covered,”  Mabel Porbley observed.

She added, “I think the other thing is to look at some of these areas and be a bit innovative at how we have done things in the past and try to bring the innovation to the needs of the people…but it is largely a high risk area I must say and so insurance will not immediately grab some of those businesses but they will take their time to assess the risks in detail before they carry on with it.”

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

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