The Central Regional Head of National Insurance Commission, Mrs. Nicholina Naa Yeye Adumuah, has urged the public to safeguard themselves against unexpected risks and losses.
She, therefore, called on individuals and institutions to prioritise insurance as a means of providing financial protection against unforeseen events such as accidents, natural disasters, health emergencies, or property damage.
Speaking at a meeting for senior administrators of the Registrar’s Department, Mrs. Adumuah explained that insurance policies could be categorised into life, health, property, and motor insurance adding that “each category offers various subtypes to meet specific needs”.
She advised individuals signing onto insurance policies to be well-versed in the terms and conditions before taking a decision.
Mrs. Nicholina Naa Yeye Adumuah speaking at the event
“Understanding the terms and conditions of insurance policies is crucial for effective risk management and financial protection. “You have 14 days to decide whether you will sign the policy document or not” she stressed.
The Mrs. Adumuah emphasized that understanding insurance policies was essential for protecting University assets and ensuring continuity of operations
Mrs. Adumuah also underscored the importance of registering with licensed insurance agents. “Demand the license of any insurance agent before signing onto any policy,” she advised, cautioning against unverified or unauthorized agents.
Touching on the role of the NIC, she highlighted that the Commission is mandated to regulate and license insurance companies, set industry standards, and oversee the training of insurance agents. She encouraged the public to report any grievances or suspected malpractice to the NIC for prompt investigation.
“Any person who feels cheated by an insurance organization should report to NIC for the necessary investigation to be carried out,” she added.
The training session covered various topics, including policy interpretation, claims management, and risk assessment.
Source: Documentation and Information Section