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Ghana Cargo Insurance Committee engages counterparts in Africa for smooth implementation

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The Cargo Insurance Committee, comprising the Ghana Shippers’ Authority (GSA), the National Insurance Commission (NIC), the Institute of Chartered Shipbrokers (ICS), and the Customs Division of the Ghana Revenue Authority (GRA), is working to improve the rollout of the mandatory acquisition of local marine insurance by importers in Ghana. To achieve this, the committee will engage with shipping and insurance authorities in Nigeria, Kenya, Tanzania, and Rwanda, who have successfully implemented the mandatory insurance scheme.

The NIC faced challenges in implementing the program when it was first rolled out on September 1, 2022, despite a nationwide sensitization campaign. As a result, the Cargo Insurance Committee was established to ensure the smooth implementation of the policy. The committee has since held meetings to discuss strategies for implementation and gather input from stakeholders to ensure full compliance.

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During a recent meeting at the Shippers’ House in Accra, the Chairman of the Committee and Head of the Freight and Logistics Department of the GSA, Mr. Fred Asiedu Dartey, emphasized the importance of gathering information from other African countries to guide the implementation of the mandatory insurance scheme in Ghana. He noted that the policy is in the best interest of shippers and should be rolled out in a way that does not add to their costs but instead protects their cargo.

The Senior Manager in Charge of Marketing and External Relations at the NIC, Mr. Charles Ansong Dankyi, used the opportunity to clarify some concerns raised by members of the Ghana Union of Traders Association (GUTA) regarding the different categories of cargo insurance coverage. He explained that there are two types of coverage: port-to-port, which covers goods from the port of loading to the port of discharge, and warehouse-to-warehouse, which covers goods from the warehouse of the port of loading to the warehouse of the port of destination, and is designed for transit cargo. Importers must declare which insurance coverage they desire.

To ensure that shippers make informed decisions, members of the committee agreed to intensify sensitization on the layers of insurance coverage available for goods. For the most part, the committee aims to ensure that the implementation of the mandatory insurance scheme in Ghana is smooth and compliant with international best practices.

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