Insurers welcome the new directive announced by the authorities

The Ghanaian insurance companies have welcomed the directive of the national insurance commission pertaining to the insurance of Ghana Gas Infrastructure. The project provides for the coverage of these risks by GOGIP pool (Ghana Oil and Gas Insurance Pool) whose management will be guaranteed by the 24 local non life insurers.

Prior to that directive, only four insurance companies (SIC, Phoenix Insurance, Vanguard Assurance and GLICO) were in the driving seats of this pool.

The new project will allow all insurers concerned to develop skills in underwriting such risks and to provide the energy business with capacity for which many of those insurers would not have had access to it otherwise.

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