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Insurance contribution to GDP
on the increase
Accra, Sept 23, Ghanadot/GNA – Insurance contributed almost
two per cent to the Gross Domestic Product of the country
but with massive education and awareness creation, it is
expected to rise to 10 per cent.
Mr Mahama Baba, President of the Ghana Insurance Association
said the growth would be as result of people’s understanding
of the industry in a more comprehensive and reliable form
which would ensure capital injection into the industry.
Speaking at a press soiree to interact with journalists and
create awareness on the ongoing insurance month celebration,
Mr. Baba noted; “Every body is a stakeholder in this
industry and very soon, we will create a database to check
fraudulent act to ensure effective management of resources.”
He said insurance should be seen as pulling together of
resources by different individuals into a pool to take care
of future mishaps and advised against “unnecessary” claims
by some individuals.
Mr Gabriel Glover, Executive Secretary, GIA called on
Ghanaians to discard the misconception that insurers were
not transparent but called on them to better study insurance
products for proper appreciation of the area.
In a related development, the Ghana Police Service was
presented with a Speed and Alcohol detecting machine worth
GH¢ 5,700 to help in performance of their duty and also
cement the relationship between the two.
Inspector Patrick Timbilla, Director of Operations said
security was a shared responsibility and urged the public to
volunteer information.
He noted that in the era of scientific evidence, the
equipment would be put to good use to enhance their
operations.
GNA
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