NIC, GIA, IACG Launches Consumer Protection Campaign

The National Insurance Commission (NIC) in collaboration with Ghana Insurers Association (GIA) and Ghana Insurers Brokers Association (GIBA) has launched a national radio sensitization campaign aimed at protecting consumers in the insurance market.

The week long campaign which is also supported by the German Development Corporation (GIZ) and Insurance Awareness Coordinators Group (IACG) will run concurrently on 21 radio stations across the country from 19^th to 24^thFebruary this yeardubbed,”National Radio Sensitization for Consumer Protection in Insurance in Ghana.”

The campaign is aimed at sensitizing the populace on the importance of risk management in life, deepening insurance awareness and penetration, improving consumer protection mechanisms and strengthening their complaints bureau.

Speaking at a press briefing in Accra, the Chairman of Insurance Awareness Coordinators Group (IACG), Mr. Wilson Tei said the uniqueness of the project is the opportunity consumers get to speak to experts who will be on radio for live interaction through phone-in approach.

He indicated that the live radio interaction with the general public will enable the populace get real-time education on the best options for managing unforeseen life perils in Ghana.

Mr. Tei added that consumers will also have the opportunity to interact with risk management experts across human life-focused, general business-focused and micro-business focused underwriters, fund managers and investors.

According to him, this campaign will among other things help consumers understand the financial disruption and the remedies.

He noted that public perception and misconception about insurance products have acted strongly against the growth of the industry.

Mr. Teiemphasised that the campaign will provide consumers not only about the products but their rights and obligations in the insurance market.

The Commissioner of the NIC, Justice Ofori has reiterated efforts by the Commission to increase the penetration of the industry to double digits in the next few years to come.

He was optimistic about the sensitization project indicating that the campaign will address the many doubts and misconceptions which has characterized the insurance market.