The General Manager of Akoto Risk Management, Mr. Kofi Akoto, has advised the public to avoid seeking the services of a lawyer for insurance claims.

According to him, when it comes to claims and understanding the terms and conditions of insurance products, an insurance broker can serve the same role as a lawyer.

Mr. Akoto encouraged Ghanaians to take advantage of insurance brokers, emphasizing that their services are easily accessible through phone calls or online searches.

He pointed out that a list of insurance brokers can be found online, and they provide free services to the public when dealing with claims and understanding insurance terms.

Explaining the role of insurance brokers, he said, “Insurance brokers are intermediaries between insurance companies and customers and are well-versed in the intricacies of insurance policies.

There is no need to hire a lawyer when pursuing insurance claims.” He added that brokers’ services are free, as their commission is already built into insurance products.

Mr. Akoto revealed that every insurance product in Ghana includes a 2.5% commission for brokers.

When customers do not use the services of brokers, insurance companies keep these commissions, highlighting the importance of engaging brokers for claims instead of paying large legal fees.

He shared these insights during the Inclusive Awareness Clinic organized by the National Insurance Commission (NIC), supported by the United Nations Development Programme’s (UNDP) Insurance and Risk Finance Facility (IRFF) in the Greater Accra Metropolitan Area (GAMA).

The clinic aims to promote inclusive insurance penetration and educate the public on business insurance, claims management, and policy terms.

Enumerators have been deployed to various locations, including Dodowa, Kasoa, Old Ningo, Prampram, and Kpone-Katamanso, to engage business owners, artisans, and associations.

The clinics not only raise awareness about business insurance but also provide a platform for participants to address complaints regarding insurance policies and claims management.

Participants were encouraged to use NIC's complaints unit for resolution and were educated on understanding insurance terms in Ghana.

Key engagements were held with groups such as the Ghana Private Roads Transport Union (GPRTU) in Dodowa, the Ghana Barbers Association in Kasoa, and the Kpone-Katamanso Wood and Timber Sellers Association.

At the Kpone-Katamanso Wood and Timber Market, Dr. Princess Amina Sammo, a representative of the UNDP’s IRFF, advised wood sellers to collaborate with the Ghana Fire Service to obtain fire extinguishers for their businesses. She urged them to hold discussions to determine which insurance products would best suit their needs, such as coverage for stocks, goods-in-transit, fire, floods, and other risks, rather than focusing only on health and life insurance.

Dr. Sammo also encouraged the association's leadership to engage an insurance broker to help tailor products specifically to their needs, ensuring the continuity of their businesses in the face of disasters.

The clinics aim to boost insurance penetration in the informal sector and provide essential protection for small and medium business owners, according to Dr. Sammo.

Mr. James Opare Manu, Chairman of the Kpone-Katamanso Wood and Timber Sellers Association, expressed gratitude to the NIC for the informative session. He urged the commission to visit communities regularly to address policyholders' concerns, especially regarding delays in claims payments.