The Ghana National Insurance Commission (NIC) published an update on its engagement with major transport unions as part of efforts to raise Ghana’s insurance penetration rate, which it put at about 1%. The Acting Commissioner of Insurance, Dr Abiba Zakariah, announced that the General Transport, Petroleum and Chemical Union (GTPCWU) and the Ghana Private Roads Transport Union (GPRTU) will each have a representative on a recently constituted Committee on Insurance Penetration. The NIC said the approach is intended to deepen stakeholder involvement in product design, distribution and claims processes. Union leaders welcomed the engagement and emphasised the value of shaping products to meet sector-specific needs; the GTPCWU Chair also called for regulated insurers to include the regulator’s contact details in all policy documents so policyholders can more readily escalate concerns about claims settlement. Preparations have started for “training of trainers” sessions for the two unions’ national and regional executives, scheduled to begin at the start of the second quarter.
Ghana National Insurance Commission 2025-03-11
Ghana National Insurance Commission appoints transport union representatives to its Insurance Penetration Committee
The Ghana National Insurance Commission (NIC) is collaborating with major transport unions to enhance insurance penetration, currently at about 1%. Representatives from the General Transport, Petroleum and Chemical Union and the Ghana Private Roads Transport Union will join a new Committee on Insurance Penetration. The initiative aims to involve stakeholders in product design and claims processes, with training sessions for union executives planned for Q2.