Ghana National Insurance Commission benchmarks Nigeria’s compulsory marine cargo insurance regime ahead of Ghana implementation

The Ghana National Insurance Commission (NIC) reported that Ghana’s Marine Cargo Insurance Technical Committee undertook a working visit to Nigeria, facilitated by Nigeria’s National Insurance Commission (NAICOM), to learn from Nigeria’s experience with compulsory marine cargo insurance as Ghana prepares to implement its own requirement under Section 222(1) of the Insurance Act, 2021 (Act 1061). The engagements were framed as practical benchmarking to support implementation and enforcement of Ghana’s rule that cargo entering Ghana must be insured with locally licensed insurers. The delegation met NAICOM’s executive management in Abuja and then held further sessions in Lagos with market bodies including the Nigerian Insurers Association and the Nigerian Council of Registered Insurance Brokers, as well as an inter-agency group spanning customs, ports and maritime authorities and freight forwarding stakeholders. Discussions focused on operational and technical aspects of implementation, including the respective roles of port operators, insurers and brokers in underwriting and claims handling, and how Nigeria’s enforcement framework applies along the cargo journey from transit to delivery. NIC indicated the tour provided insights into Nigeria’s processes, challenges and successes and created a basis for ongoing collaboration to support Ghana’s marine cargo insurance rollout.