He said the Act mandates that with the express exception of personal belongings, all goods being imported into Ghana must necessarily be insured in the country.

Mr. Dankyi emphasized the advantages of obtaining marine insurance locally, including savings on foreign exchange, quick payment of claims, easy access to the insurer, value for money and convenience.

He stated that the NIC would step up its effort to facilitate the acceptance of the Local Marine Insurance policy by stakeholders in the shipping and logistics industries.

Mr. Dankyi stated during the Greater Accra Regional Shipper Committee Meeting (GARSC) for the fourth quarter of 2022.

The meeting, at the Shippers’ House followed a request by members of the GARSC at their third quarter meeting that the NIC should be invited to clarify the protocol that governs the Marine Cargo Insurance Policy.

Mr. Dankyi further noted that underwriting of cargo insurance would be done through the Insurers Portal, an electronic platform created by the NIC to facilitate the undertaking of local marine insurance.

He added that the GRA will ensure the issuance of Cargo Certificate Insurance through the portal.

Mrs. Monica Josiah, Head of Shipper Services and Trade Facilitation at the Ghana Shippers’ Authority (GSA), advised the importers to comply with the law on Marine Cargo Insurance to avoid sanctions by the NIC.

Members of the Committee thanked the GSA and the NIC for providing clarification on the very important issues pertaining to the Local Marine Insurance regime.