The stakeholders, insurers and brokers, are seeking an extension of the deadline set by the National Insurance Commission (NIC) to comply with the new minimum capital requirement [4] set for 30 June 2021.
The impact of the pandemic seems to have affected the insurers who are facing a significant increase in the loss experience related to the business interruption caused by Covid-19.
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[3] https://www.atlas-mag.net/en/issue/turbulence-in-aviation-insurance
[4] https://www.atlas-mag.net/en/article/minimum-capital-increase-for-insurers-reinsurers-and-brokers-in-ghana