‘Akwaaba Insurance’ policy has no approval from NIC

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The National Insurance Commission (NIC) has refuted claims of its decision to implement a mandatory “Akwaaba” Insurance policy effective end of the first quarter 2022 for travellers arriving in Ghana.

A news item sighted by Angelonline.com.gh and published on January 24, 2022 by the Business and Financial Times (B&FT) website titled “Mandatory Akwaaba Insurance awaits inbound travellers from Q1”, stated that all international travellers arriving in the country would be signed onto the insurance policy irrespective of their period of stay in the country and their nationality.

“Per provisions of the policy, every traveller coming into the country will be required to purchase the insurance regardless of the duration of stay and nationality” the Managing Director of State Insurance Company PLC (SIC), Stephen Oduro, is alleged to have said to B&FT.

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According to him, the policy is expected to managed by three insurance companies: SIC, Enterprise Insurance and GLICO Insurance Company.

However, the National Insurance Commission in its disclaimer to the general public dated January 25, 2022 said said it had not approved the policy.

The statement issued by its Public Relations Unit said “the NIC wishes to advise the general public that the said ‘Akwaaba Insurance’ has not been approved by the Commission and as such any publication to that effect should be disregarded”.Akwaaba Insurance


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