In the wake of the Akosombo Dam spillage, which led to severe flooding in parts of the Volta, Eastern, and Greater Accra regions, Ghana’s insurance industry is stepping up to support the affected residents. The flood has caused significant damage to households and families in these areas, emphasising the critical need for insurance coverage among the affected population. Unfortunately, the majority of those impacted lack any form of insurance, highlighting the low insurance penetration in Ghana.
Recognizing the importance of insurance in safeguarding individuals and households during emergencies like these, key stakeholders in the insurance industry have united to provide assistance to flood victims. Their goal is not only to extend a helping hand to those affected but also to raise awareness about the significance of insurance in times of crisis and how it can aid in rebuilding lives after disasters.
During a brief ceremony held to hand over a variety of relief items to the leadership of the Mepe Development Committee, Mr. Seth Kobla Aklasi, President of the Ghana Insurers Association, shared insights into the industry’s collective effort. He emphasized that while insurance is typically associated with collecting premiums and paying claims when risks occur, the current situation calls for a different approach. In a gesture of giving back to society, the insurance industry has mobilized substantial funds to purchase relief items for flood victims. Mr. Aklasi expressed his gratitude to all stakeholders and their staff for making this initiative possible.
The presentation of relief items to representatives of the flood victims was conducted by Mrs. Esther Armah, Head of Reinsurance and AML, on behalf of Mr. Michael Kofi Andoh, the Acting Commissioner of Insurance. Mrs. Armah reiterated the importance of Ghanaians understanding and supporting the insurance industry, emphasizing its invaluable role during challenging times.
Mr. Romeo Adjah, PRO of the Mepe Development Association, expressed profound gratitude on behalf of the Association, the Traditional Council, and the affected victims. He acknowledged the significance of this gesture, especially during challenging economic times. He assured those present that relief items would be distributed fairly and evenly among the victims, highlighting the fact that most of them lacked insurance coverage to protect them in such situations. He called on stakeholders to intensify awareness efforts regarding insurance, both to boost insurance penetration and to ensure that victims of disasters like this can receive much-needed relief.
The donation, valued at several thousands of Ghana Cedis, included essential items such as mattresses, sachet drinking water, sanitary pads, gas burner cylinders, mosquito nets, bags of rice, and new and used clothing contributed by staff from insurance and brokerage firms, among other goods.
The event was graced by representatives of key stakeholders in the insurance industry, including Mr. Shaibu Ali, President of the Insurance Brokers Association, Mr. Solomon Lartey, President of the Chartered Insurance Institute of Ghana, and representatives of the Ghana Bureau of the ECOWAS Browncard scheme. They all took the opportunity to deliver relevant addresses, underlining the importance of insurance in protecting individuals and families during unexpected crises.