NIC to resume enforcement of compulsory fire insurance


    The National Insurance Commission (NIC) will soon resume its enforcement exercise to ensure that all commercial buildings are insured against fire, Deputy Commissioner of Insurance, Mr Michael Andoh, has said.

    Although the Insurance Act, 2006, (Act 724) makes it compulsory for privately owned businesses to insure their properties, many are yet to comply with this provision.

    Sections 183 and 184 of the law make it mandatory for all commercial properties, either under construction or completed, to have valid insurance certificates to provide financial protection against legal liabilities arising from accidents that cause property damage, bodily injury or death to an individual.

    As a result of the non-compliance with this provision, the NIC has set up a task force which from time to time go out to sensitise the owners of these commercial properties in a bid to enforce the law.

    In the wake of the Makola fire outbreak and other fire outbreaks in the country, Mr Andoh said the commission would soon resume its enforcement exercise across the country.

    The Deputy Commissioner said this in an interview with the media when the NIC made a GHȼ300,000 donation to the Ghana National Fire Service (GNFS).

    He said even though the exercise of clamping down on uninsured private commercial properties had improved compliance over the past years, there were still some recalcitrant property owners out there flouting the directive, hence the need for the comeback.