Insurance firms not in financial distress – NIC

The National Insurance Commission (NIC), has debunked reports making rounds on social media suggesting that some insurance companies are in financial distress.

The NIC warned that those circulating such false information about some institutions could cause serious challenges for players in the industry.

NIC in a press statement copied to media houses and signed by the Commissioner of Insurance, Justice Ofori, urged the public to disregard the comments which are vicious attempts by anonymous individuals to tarnish the reputation of the said companies.

“The Commission would also like to advice persons engaged in these actions to desist and refrain from such acts since legal action shall be taken against them if found,” the statement added.

This comes on the back of government’s plans to bring together some private insurance companies under one umbrella to pump GHc2 billion into some solvent but struggling local banks in the country.

Below is the full statement:
MIS-INFORMATION ABOUT SOME INSURANCE COMPANIES

The attention of the National Insurance Commission has been drawn to messages making rounds on social media that some insurance companies are in financial distress.

The Commission would like to use your medium to inform the public to disregard these malicious comments, which are vicious attempts by anonymous individuals to tarnish the reputation of these insurance companies.

The Commission would also like to advice persons engaged in these actions to desist and refrain from such acts since legal action shall be taken against them if found.

The public should note that the Commission has a bureau that investigates and resolves complaints by persons who are of the view that they have been unfairly treated by an insurance company. The public is advised to use this medium to settle any disputes they may have with an insurance company.

For the avoidance of doubt, the public is advised to refer to the attached list of companies comprising of insurance and insurance intermediary companies that are in good standing.

Please contact the Commission on telephone numbers: +233 302 238300/238301 or visit the website of the Commission on (www.nicgh.org) if you require further information on the insurance industry in Ghana.

Signed

Justice Yaw Ofori (Mr.)

Commissioner of Insurance

Source- Citibusiness

Ishmael Kodjoe

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