Develop innovative insurance policies to promote agriculture – Commissioner of Insurance
Insurance companies in the country must develop innovative agriculture insurance products to help boost agriculture in the country, the Acting Commissioner of Insurance, Mr Michael Kofi Andoh has said.
He said the increasing threats of climate change had necessitated the need for tailored agricultural insurance solutions to help farmers withstand the shocks of climate change and help boost food production as well as promote food security.
The World Bank recent Climate Health and Vulnerability Assessment report estimates that more than two million Ghanaians are vulnerable to food insecurity.
Speaking at the 17th Graduation Ceremony of the Ghana Insurance College (GIC) in Accra on Friday, Mr Andoh said climate change was creating problem for all the sectors of the economy particularly agriculture.
He said climate change was causing rise in sea levels, drought and floods, saying places which never flooded when it rained heavily were now getting flooded when it rained.
The graduation was on the theme “The future of insurance: The role of education.”
In all, 21 students graduated with Certificate in Insurance, 157 in Diploma in Applied Insurance, 21 in Advanced Diploma in Insurance – Insurance Brooking Specialty, nine in Advanced Diploma in Insurance – Life and Health Specialty, 62 in Advanced Diploma in Insurance – Underwriting Specialty, Advanced Diploma in Insurance – Claims Specialty.
Portia Pinkrah was adjudged the overall best student in the Diploma Level and Ken Doh took the overall best position in Advanced Diploma Level.
On the graduation ceremony, Mr Andoh urged the graduates to work hard to change some of the negative practices affecting insurance service delivery in the country.
The President of the Ghana Journalists Association (GJA), Albert K. Dwumfuor who was the speaker commended the graduands and urged them not to rest on their oars but continue to pursue further education and life-long learning.
He appealed to the government to help expand infrastructure at the GIC so more students could be admitted to study insurance.
The Director of the GIC, Mr Richard Okyere said the National Insurance Commission, Ghana Insurers Association, Insurance Brokers Association of Ghana and Chartered Insurance Institute Ghana came together to found the GIC in 2006.
The establishment of the GIC, he said was to contribute towards the advancement of the insurance in Ghana and said GIC was in the process to introduce degree programmes to augment the existing programmes.
Mr Doh who gave the valedictory speech called for intensified education and public awareness on insurance to increase insurance coverage in the country.
BY KINGSLEY ASARE
