SIC PAYS CLAIMS TO MANGANESE COMPANY (PAGE 3, JAN 8, 2011)

THE State Insurance Company (SIC) has presented a cheque for US$320,000 to the Ghana Manganese Company (GMC) to cover insurance on its damaged equipment.
The amount is to enable the management of the GMC, a mining company located at Wassa Nsuta in the Tarkwa/Nsuaem municipality in the Western Region, to procure a new hydraulic excavator which was damaged accidentally.
The Tarkwa Branch Manager of the SIC, Mr Joseph Akomaning, who presented the cheque, said the continuous refusal of many Ghanaians to insure their businesses, homes and equipment needed sustained education to reverse the trend.
He said many Ghanaians had cited mistrust, improper explanation of terms, conditions and clauses and undue delays in the payment of claims as major challenges that needed to be confronted to make insurance attractive to the people.
He said the SIC’s prompt payment of claims over the years had made it the preferred insurance entity for many mining companies in the country.
Mr Akomaning, therefore, urged Ghanaians to patronise the services of insurance companies which were willing to promptly pay their claims, explain terms and conditions, as well as other obligations, to them.
The Managing Director of the GMC, Mr Jurgen Eigendaal, who received the cheque, expressed the company’s appreciation to the management of the SIC for the prompt payment of the claims.