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COVID-19: Insurers discuss impact on industry
Krif Ghana Limited, distributors of office stationery and equipment, and publishers of Integrity Magazine, has held its 4th Webinar series on the effects of COVID-19 on Corporate Ghana.
Last Tuesday’s event, which focused on the insurance industry, brought on board insurers across the country, who touched on various aspects of the insurance sector, with a call on Ghanaians to “be interested in insurance”.
Experts took turns to explain the present and future outlook of the insurance industry amidst the COVID-19 outbreak.
Rev. Kennedy Okosun, the Chief Executive Officer of Krif Ghana Limited, urged insurance companies to do more in building trust with its stakeholders.
According to him, a well-developed insurance industry was “a requisite necessity in the efforts to improve the stability of the financial markets and protect individuals and businesses from losses” in the difficult times of COVID-19.
He believes the period could be “the catalyst for the insurance industry to cash in as the world is at the mercy of natural disasters and accidents.”
Making further reference to the pandemic, he urged the public to ensure they were “well covered and protected in case of any eventuality.”
Mr Edward Forkuo Kyei, Chief Executive Officer, GLICO Group, also agreed that insurance companies could take advantage of the “opportunities amidst the difficulties.”
He said COVID-19 had opened the doors for the use of various technologies to conduct virtual meetings, which were as effective as face-to-face meetings.
“These turbulent times may very well be the turning point that will drive transformational change across the insurance industry. Those who take a customer-first attitude, reset and fundamentally rethink how they do business will find themselves emerging from a position of strength when the dust settles,” he said.
Mr Shaibu Ali, Chief Executive Officer of KEK Reinsurance Brokers (Africa) Ltd said insurance brokers had as well adopted new approaches to doing business and interacting with clients.
Madam Ernestina Abeh, Managing Director of Enterprise Insurance Company Limited, in her analysis, said the country’s general insurance industry had not been plagued by “large claims as a result of the pandemic” as compared with western markets.
She explained that the pandemic had enabled insurance companies to go digital to reduce operational cost to some extent.
By Spectator Reporter
News
New BoG governor can’t engage in official duties – Afenyo-Markin to Mahama
The Minority Leader, Alexander Afenyo Markin has raised concerns over the assumption of official duties by Dr. Johnson Asiamah as Governor of the Bank of Ghana (BoG).
The former Deputy Governor was recently nominated by President John Dramani, on January 31, 2025, to serve as Governor, pending approval by the Council of State.
This follows a formal request by the current Governor, Dr. Ernest Addison, to proceed on leave ahead of his retirement on March 31, 2025.
However, in a letter to President Mahama dated February 4, Minority Leader raised serious concerns with Dr. Asiamah’s assumption of office in the absence of the Council of State.
“Your Excellency, it is my considered view that Dr. Johnson Asiamah should refrain from engaging in official duties at the Bank of Ghana until his nomination has been duly approved by the Council of State. While awaiting confirmation, he can seek any necessary briefings outside the formal assumption of office,” the letter noted.
He added, “I trust that due attention will be given to this matter to uphold the integrity of our institutional processes.”
By Edem Mensah-Tsotorme
Read full statement below
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Bagbin lifts suspension of four MPs
Speaker of Parliament, Alban Bagbin, has lifted the suspension of four Members of Parliament (MPs) who were suspended after a clash during the vetting session on Thursday, January 30, 2025.
The altercation occurred between Minority and Majority MPs, escalating tensions in Parliament. The disagreement reached a peak after the suspension of the four MPs, triggering a debate over whether the vetting should proceed on January 31, 2025.
Following the suspension, the Minority MPs walked out, leaving only the Majority to continue with the vetting of nominees, including that of MP Samuel Okudzeto Ablakwa, who had already undergone several hours of questioning by the Minority Leader, Alexander Afenyo-Markin.
The lifting of the suspension comes after a review of the incident. The four MPs – Rockson Nelson Dafeamekpor, Frank Annoh-Dompreh, Jerry Ahmed Shaib and Alhassan Tampuli – are now expected to resume their parliamentary duties as normal. The move seeks to restore order in Parliament following the disruptions.
This was after both the majority leader and minority leader appealed to the Speaker of Parliament to lift the ban on the four MPs.
Alban Bagbin said, “So I have lifted the suspension order. I do so instantly and takes effect immediately. The affected Hon. Members are permitted now to enter the precincts of the house. I must say they actually complied with the orders.”
He assured that the investigations will continue, and the House will have the opportunity to make a decision.
He commended the security agencies for their support.
Source : Citinewsroom.com
