Star Microinsurance, Advans Ghana pay claims to Kantamanto fire victims

Star Microinsurance Company, through their underwriting partners (Star Assurance and Starlife) has presented a cheque for Ghs115, 000 as claims to the first batch of victims of the recent fire outbreak at the Kantamanto and Agbogbloshie markets.

In all, over 250 people were affected by the fire that claimed millions in properties belonging to traders at both markets.

The claims were paid to the victims through Avans Ghana Savings and Loans and MicroEnsure Ghana, partners of Star Microinsurance Company Ltd.

Apart from the payment of the outstanding loans, all individuals who were affected by the fire were given a benefit token of GHc 200.

Making the presenting, the Head of Operations of Star Microinsurance company Ltd, Mr. Solomon Larbey said, “This claims has been made possible because of the credit life protection policy which gives protection to the loan beneficiary (death), the business property (fire and allied perils) and hospitalization cover”.

“No one expects a tragedy or mishap to happen but we all need to prepare for it. Death, property destructions and even sickness can come when one does not expect. The credit life policy is therefore arranged to protect the customer against such events like the fire which gutted the Kantamanto market”.

Mrs. Barbara Odei, the Chief Operating Officer of Advans Ghana Saving and Loans company, on her part, urged “all savings and loans and microfinance companies to take up the credit life protection policy to cushion [their clients] against such occurrences.

“And to our business men and women to ensure that they access loans from institutions which have such policies in place, so that in case of such happenings, the insurance company can come to their aid,” she added.

The traders who benefitted from the insurance claims were full of praise for the gesture and edged their colleagues to take insurance policies seriously.

Story by Ghana/Myjoyonline.com