By Emmanuel Mensah-Abludo
The National Insurance Commission has organised a symposium on Motor Insurance and Motor Compensation Fund (Comp Fund) in the Upper West Regional Capital, Wa. The event was aimed at fostering further collaboration as well as knowledge sharing among key stakeholders in the insurance and road safety industries.
The Acting Commissioner of Insurance, Kofi Andoh, who graced the occasion, observed that the cardinal objective of insurance is to safeguard the safety of individuals and society as a whole. GBC’s Emmanuel Mensah-Abludo in this piece says Mr. Kofi Andoh entreated the public, especially passengers, to check whether the commercial vehicle they want to travel on has a cover.
The motor Insurance data base can be accessed via a shortcode *920*57# followed by the vehicle number for one to check whether a vehicle is insured or not. Mr Andoh stated that motor insurance was digitised to surmount the Challenge of fake insurance documents.
He said: “We brought in the motor insurance data base which I know most of you Know about. Now it is easy for them and indeed for anybody to check whether a vehicle is insured or not. lf you, say a passenger travelling you can check whether the vehicle you want to board is insured or not. Today, in 2024 board say a bus and it got involved in an accident and realised that the bus was not insured, and somehow, I will say it is your fault, because you can check, you can check any time before you board any commercial vehicle.”
Mr Andoh emphasised the need for insurance policy holders to uphold the principle of “Utmost Good Faith” to enable insurance companies to assess their risks and price them appropriately.
The Upper West Regional Commander of the Motor Traffic and Transport Department (MTTD), ASP Pual Boakye Yiadom, underscored the significance of proper insurance cover on our roads.
He noted, “Insurance provides a safety net for parties involved in road accidents. It ensures victims are able to receive compensation and necessary medical treatment. And it helps drivers and riders to avoid financial ruin by covering repair costs and liability fees. In essence, Insurance provides and promotes responsible driving and riding behaviour and foster a course of accountabilly on our roads.”
The Chief Operating Officer of Sunu Assurance and Member of Motor Compensation Fund, Osman Abudu, talked about some instances in which an insurance company will decline to pay compensation, saying when the vehicle is not insured properly or being driven by an unlicensed driver.
He observed that the Motor Compensation Fund exists as a compensation fund of last resort, so the claimant must prove that he or she has tried without success to make a claim from the insurer of the offending driver or the vehicle owner.
