The National Insurance Commission (NIC) says it will from the month of October arrest and prosecute owners of private commercial buildings who fail to insure their buildings.
Sections 183 & 184 of the Insurance Act 724 makes it compulsory for private commercial buildings, including those under construction to be insured.
Deputy Commissioner of Insurance Simon Nerro Kodjo Davor speaking to Citi Business News said the violation of the law had resulted in the collapse of buildings recently.
He said the Commission had formed a taskforce which has zoned Accra and will soon begin arresting owners of private commercial properties without the requisite insurance policy.
He urged the public to lodge complaints with the Commission or Ghana Insurance Association for redress on all issues with regards to insurance.
“We want the public to have confidence in the insurance sector. Without the confidence, the sector can’t achieve much,” Mr Davor said.
The Deputy Commissioner of Insurance Simon Nerro Kodjo Davor told Citi Business News that pecuniary penalties would be charged on landlords who fail to take up insurance policy on their properties.
“Am sure by next month you will see the arrest of property owners who are not complying with the law.”
By: Norvan Acquah-Hayford/citifmonline.com/Ghana