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COVID-19: Insurers discuss impact on industry
Krif Ghana Limited, distributors of office stationery and equipment, and publishers of Integrity Magazine, has held its 4th Webinar series on the effects of COVID-19 on Corporate Ghana.
Last Tuesday’s event, which focused on the insurance industry, brought on board insurers across the country, who touched on various aspects of the insurance sector, with a call on Ghanaians to “be interested in insurance”.
Experts took turns to explain the present and future outlook of the insurance industry amidst the COVID-19 outbreak.
Rev. Kennedy Okosun, the Chief Executive Officer of Krif Ghana Limited, urged insurance companies to do more in building trust with its stakeholders.
According to him, a well-developed insurance industry was “a requisite necessity in the efforts to improve the stability of the financial markets and protect individuals and businesses from losses” in the difficult times of COVID-19.
He believes the period could be “the catalyst for the insurance industry to cash in as the world is at the mercy of natural disasters and accidents.”
Making further reference to the pandemic, he urged the public to ensure they were “well covered and protected in case of any eventuality.”
Mr Edward Forkuo Kyei, Chief Executive Officer, GLICO Group, also agreed that insurance companies could take advantage of the “opportunities amidst the difficulties.”
He said COVID-19 had opened the doors for the use of various technologies to conduct virtual meetings, which were as effective as face-to-face meetings.
“These turbulent times may very well be the turning point that will drive transformational change across the insurance industry. Those who take a customer-first attitude, reset and fundamentally rethink how they do business will find themselves emerging from a position of strength when the dust settles,” he said.
Mr Shaibu Ali, Chief Executive Officer of KEK Reinsurance Brokers (Africa) Ltd said insurance brokers had as well adopted new approaches to doing business and interacting with clients.
Madam Ernestina Abeh, Managing Director of Enterprise Insurance Company Limited, in her analysis, said the country’s general insurance industry had not been plagued by “large claims as a result of the pandemic” as compared with western markets.
She explained that the pandemic had enabled insurance companies to go digital to reduce operational cost to some extent.
By Spectator Reporter
Troubled and anxious citizens in Damongo of the Savannah Region have expressed concerns about the number of young people, believed to be under the age of 18, involved in ‘shisha’ smoking in pubs and drinking spots within the township.
Eyewitnesses say the minors were seen patronising nightlife venues, where Shisha smoking happen in the open.
The situation has sparked renewed public concern over the enforcement of child protection laws and regulations governing the operations of entertainment centres in the municipality and country as a whole.
An eyewitness, who spoke to The Spectator on conditions of anonymity for security reasons, noted that the situation was becoming increasingly common.
“This is not a one-off incident. It is becoming very common, but residents like us cannot openly report or speak about it because our lives will be at risk,” he said.
Under Ghanaian law, minors were prohibited from patronising Shisha.
Public health experts have consistently warned that shisha use exposes users to harmful substances that can negatively affect brain development, respiratory health, and overall well-being, particularly among young people.
The residents believe the alleged incidents point to broader challenges relating to youth supervision, substance abuse, and weak enforcement of existing regulations and have called on municipal authorities, security agencies, and regulatory bodies to intensify monitoring of pubs and entertainment centres to ensure compliance with the law.
In an effort to address the menace, Mr Salisu Be-Awurbi, the Savannah Regional Minister, has led public education campaigns, engaged security agencies, and supported enforcement actions to address the rising use of illicit substances in the region.
Wura Kelly Seidu Boresah I, the Chief of Damongo, has also called on all stakeholders including parents, community leaders, institutions, and young people to actively support efforts to curb drug abuse, warning that the rising consumption of hard drugs poses a serious health threat to the future of the youth in the Savannah Region.
He also cautioned individuals involved in the sale and distribution of illicit drugs to immediately desist from the practice, stressing that offenders will face arrest and prosecution in accordance with the law.
From Geoffrey Buta, Damongo, Savannah Region
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Dr Theresa Baffour, an advocate for ending violence and Chief Executive Officer (CEO) of SAHM SAHW Foundation, has said that society plays a critical and pivotal role in breaking the cycle of domestic violence.
According to her, domestic violence is a major contributor of making women, who are mostly the victims, mentally derailed and unable to engage in economic activities.
She said this when the foundation called on the Ga Mantse, Nii Tackie Teiko Tsuru II, to solicit support for the initiative by the “Strong and Healthy Minds, Strong and Healthy Women” (SAHM SAHW) to combat domestic violence within the Ga State.
The visit was occasioned by the fact that domestic violence cases have become quite prevalent in the Ga communities and is retarding growth.
According to her, the canker was an impediment to national development because the victims were usually tortured and would have to go through series of therapies to return to the right state of mind.
Dr Baffour mentioned that Gender-Based Violence (GBV) places a mental toll on women, and was, therefore, important to break the cycle through comprehensive mental health support, crisis intervention and empowerment programmes in communities with high rates of GBV.
This intervention, she underscored, would help in empowering the denigrated victim of domestic violence to soundly heal, build and thrive.
Dr Baffour added that the initiative would provide holistic, trauma-informed mental health care and advocacy for young women affected by domestic violence.
According to her, the above statement would create safe spaces for healing and equipping them with entrepreneurial skills for renewed hope and empowered life.
The Ga Mantse pledged his support for the laudable initiative to combat domestic violence and also acknowledged the need to address it in the Ga State.
Further endorsement came from Justice Julia Naa-Yarley Adjei Amoah, Chief of Staff at the Office of the Ga Mantse, as she commended the team of SAHM SAHW Foundation for taking a bold step to end the canker in the Greater Accra.
She added that it was a step in the right direction to save vulnerable women from torture, stress and emotional abuse.
By Alfred Nii Arday Ankrah
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