Tag: National Insurance Commission
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Policy holders with ESICH Life Assurance to access claims soon
Policy holders with ESICH Life Assurance should expect to receive part of their locked up claims in the next 2 to 3 months. That is according to the regulator for the insurance sector in Ghana, the National Insurance Commission (NIC). The NIC back in October 2018, moved in to get customers of ESICH Life Assurance…
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Insurance products must be well explained to gain trust—Bedrock Insurance CEO
Stakeholders in the insurance industry have urged insurance companies to build trust by properly explaining insurance policies to clients before they sell to the public. The call comes after several complaints from policyholders who complain of being shortchanged by insurance companies whenever there is an accident and they file for claims. Speaking to Citi Business…
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NIC to announce new capital requirement for insurance industry before end of year
The National Insurance Commission (NIC) will before the end of the year 2018 announce a new minimum capital requirement for the insurance industry. This is according to the Head of Supervision of the NIC, Seth Eshun. Currently, the minimum capital requirement for insurance companies is 15 million Ghana cedis. According to the NIC, the delay…