insurance

NIC moves to establish laws on compulsory insurance

The National Insurance Commission, NIC has initiated steps to get government enact the requisite laws for compulsory insurance.

This would see professionals like medical practitioners enjoy insurance cover against any untoward incidents that may arise in their line of duty. It would also seek to enforce the workmen’s compensation which ensures people who are injured or disabled on their jobs are compensated.

The NIC has set up a committee for this which is expected to complete its work in the next 3 months. The Insurance Commissioner, Lydia Bawa revealed in an interview after a ceremony to mark the 25th anniversary of the NIC.

“We formed a committee so that we can get the government to legislate on compulsory insurance for instance group life insurance, personal accident insurance as well as professional insurance like the medical practise insurance so that doctors will have insurance so when they make mistakes and get sued, the insurance companies will pay”

“After the committee has submitted its report, we will engage government because we need legislation. For instance there’s the workmen’s compensation law that enjoins every employer to compensate the employee who gets injured or dies in the course of employment. But the  insurance of that liability is not compulsory so they choose to insure or not to insure but the law says they should compensate so we are asking that the liability be transferred to an insurance company and it should be made compulsory for them to do that” she noted.

The NIC on the occasion of the 25th anniversary celebrations also unveiled a new logo and renamed its building the ‘Appiah-Ampofo” building.