NIC urged to impress on companies to write insurance policies in simple language

The National Insurance Commission (NIC) has been urged to impress upon insurance companies to write their policies in very simple language.

Additionally, the Commission must ensure that insurance companies transact business to the satisfaction of the public.

Making the call in an interview with the Ghana News Agency in Tema, Mr Samuel Kwame Kyei-Appiah, Tema Regional Manager of the International Energy Insurance Company (IEIC), also urged the public to take their time to read policies they purchased.

This, he said, is because insurance was designed to protect them in the event of the unexpected, so that they could avoid disappointments in times of claims.

Mr Kyei-Appiah pointed out that the insurance industry was a contributor to the nation’s economic growth, by converting individual savings into portfolios of assets and investments returns, and allowing those insurers to share in the prosperity of the economy.

He reminded business entities and individuals that insurance companies were not in business to take undue advantage of them, but rather “they are in to fill an important gap in the socio-economic development of the country.

Source: GNA