Graphic Business News

IGP endorses Motor Insurance Database initiative by NIC

By: Graphic Business

The Inspector-General of Police (IGP) has commended the National Insurance Commission (NIC) on its bold implementation of the Motor Insurance Database (MID).

He said this initiative was long overdue and could not have come at a better time. He made these remarks when the top Management of the NIC led by the Commissioner of Insurance, Justice Yaw Ofori, paid a courtesy call on him at the Police Headquarters.

Also present at the meeting was the Director-General of the Motor Traffic and Transport Department of the Ghana Police Service, Commissioner of Police Beatrice Vib-Sanziri.

He bemoaned, the carnage on our roads being recorded at such an alarming rate barely a few days into the new year as worrisome.

The objective of the MID is to curb the phenomenon of vehicles with fake motor insurance stickers plying our roads, thus endangering lives and property
The IGP further called on the NIC to expedite action on the training of the Police Officers of the MTTD on the MID across the Country for more effective and successful implementation.

In his remarks, the Commissioner of Insurance, Justice Ofori commended the Police for being a key stakeholder in the motor insurance space as regards enforcement without which the industry would have suffered a huge setback. Mr Ofori assured the IGP and for that matter the Police Service of the insurance Industry’s unrelenting support towards an enhanced collaboration.

“The NIC will collaborate with the MTTD  as they conduct random checks across the lengths and breadths of the country to rid our roads of uninsured vehicles with fake insurance stickers,” the Commissioner intimated.
It is instructive to note that the number of uninsured vehicles on our roads is not easily detectable by the Police and this has led to the loss of many lives and property – a situation that warranted the development and ultimate implementation of this database.

It is expected that this will provide the much-needed vehicle for increased insurance penetration in the country; thus, contributing to real economic growth.

It would be recalled that the Vice-President, Alhaji Dr. Mahamudu Bawumia, made a formal declaration on this all-important digital database in December 2019 and its swift implementation by the NIC.

The Vice President described the innovation as a demonstration of the regulator’s resolve to ensure consumer protection and prudent solvency of the insurance sector as stipulated in Article 2 (3) of the Insurance Act 2006 (Act 724) and plugging the loopholes couldn’t have been this timely.