Tag: Motor Insurance Database
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NIC, MTTD and National Service Secretariat to train more youth in insurance
Data from the National Insurance Commission, NIC, shows that Ghana’s insurance penetration and coverage remains quite low. The Insurance Commission has thus reiterated its commitment to improve the trend in the next few years by implementing new initiatives; which includes the training of some ten thousand Ghanaian youth on insurance to offer different services. As…
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MID has improved our Motor Insurance portfolio – Hollard Insurance MD
One of Ghana’s leading insurance firms, Hollard Insurance, says since the introduction of the MID in January this year, it has seen an increase in its Motor Insurance portfolio. The MID was introduced to eliminate the phenomenon of fake Motor Insurance. Statistics from the NIC has shown that out of 2.3 million vehicles registered in…
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NIC pushes for review of Motor Insurance Act to protect persons hit by gov’t vehicles
The National Insurance Commission, NIC, says it is seeking a review of the portion of the Motor Insurance Act, 1958, which exempts government registered vehicles from buying insurance policies. The Act stipulates that all vehicles must be covered for unlimited bodily injury and death compensation to third parties, such as fare paying passengers and pedestrians.…
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Over 500,000 stickers issued electronically through Motor Insurance Database – NIC
The National Insurance Commission, which regulates Ghana’s insurance sector, says it has already issued half a million motor insurance stickers using the newly introduced Motor Insurance Database, MID. According to the NIC, over time, the Motor Insurance Database will help to completely eliminate the phenomenon of fake insurance stickers. Speaking to Citi Business News, the…
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MTTD, NIC collaborate to clamp down on producers of fake insurance stickers, certificates
The Motor Traffic and Transport Department, MTTD of the Ghana Police Service says it is collaborating with the National Insurance Commission, NIC, to clamp down persons issuing fake motor insurance stickers and certificates. Speaking at a Training of Trainers programme on the newly introduced Motor Insurance Database, Operations Director at the MTTD, Supt. Dr. Sasu…
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Motor Insurance database crosses 101,000 mark in 7 weeks after implementation
The Motor Insurance Database (MID), which was introduced by the National Insurance Commission in January 2020 to help eliminate the phenomenon of fake insurance in the system has crossed the 100,000 mark just in 7 weeks. This was disclosed by the Head of Supervision of the National Insurance Commission (NIC), Mr. Seth Eshun, during the…
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GPRTU backs new Motor Insurance Database to check fake insurance stickers
Following the introduction of the Motor Insurance Database (MID) to check the menace of fake insurance stickers, the Greater Accra Regional Executives of the Ghana Private Road Transport Union (GPRTU) of the Trades Unions Congress (TUC), has pledged their support to the National Insurance Commission to ensure a smooth implementation of the programme. The group…
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NIC extends deadline for submission of motor insurance data by insurance firms
The National Insurance Commission, NIC, says it is expecting all insurance companies to furnish it with information on all motor insurance policy holders by March 2020. The directive follows the commencement of the Motor Insurance Database, which has replaced the old insurance stickers with an electronic one, to check fake insurance stickers. In January, the…