Insurance Companies To Have licenses withdrawn For Undue Delays Of Payments - NIC

The National Insurance Commission NIC says any insurance company that delays unduly in the payment of claims to policy holders will have its license withdrawn.

It has also directed all insurance companies offering Micro Insurance Products to have the Commissions logo embossed on them, by the end of November, this year.

This is to help protect policy holders from fraudsters.

Deputy Commissioner of the NIC, Simon Nero gave the directive in Accra, at the 4th Financial Literacy Week celebrations.

He said the commission is working round the clock to ensure that difficulties in getting claims paid are curtailed.

SOURCE: GBC