NIC begins enforcement of building insurance in Kumasi

The National Insurance Commission (NIC) has begun an exercise to enforce compulsory insurance of private commercial buildings by property owners in the Kumasi Metropolis.

The week-long operation, being carried out by a National Taskforce set up by the Commission is part of a nationwide exercise to ensure compliance of the building insurance
law, to provide some relief to property owners and tenants in the event of the outbreak of fire or any other disaster.

A total of nine commercial properties in the metropolis were visited on the first day and these included Dovewell Village, Japan Motors, Adum Shell Filling Station and Stallion Motors.

The rest were the Golden Bean, Sweet Gardens and Ki-Vis Hotels at Ridge Nhyiaeso, Royal Lamerta and Cozy Lodge Hotels at Ahodwo.

All, except the Adum Shell Filling Station, had insurance cover, and one of the managers of the station was arrested.

Mr. Joseph Bentor, the NIC’s Head of Marketing, Research and External Relations, told newsmen that any offender who was arrested had 48 hours to do the right thing or face prosecution.

He said similar exercises had already been held in Accra and Tema and came after extensive public education to create awareness and help people to better understand the need to have their properties insured.

Doing that, Mr Bentor noted, was in their own interest as well as businesses operating from their property and their clients.

Mr. Bentor asked everybody to make sure that they complied with the law to avoid trouble.

The Private Commercial Building Insurance Law, Act 724, 2006, makes it mandatory for commercial buildings both completed and under construction to be covered by an insurance policy.

Source:GNA