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The SIC Insurance PLC on Wednesday paid a non-motor insurance claim of more than $1 million to the Volta River Authority (VRA) in
Accra for the explosion of the feed water pipeline to the boiler of the authority’s Heat Recovery Stream Generator at Aboadze, Takoradi, in the Western Region.
The claim was paid under the VRA’s Asset All Risk Policy.
Presenting a cheque to the Chief Executive Officer (CEO) of VRA, Edward Ekow Obeng-Kenso, the Acting Managing Director of SIC Insurance PLC, Mr James Agyenim-Boateng, said the payment of the claim was a testament that SIC was always committed to its obligations and prioritises customer satisfaction.
“SIC is reliable, we cherish our relationship with our customers, we serve with integrity, excellence and professionalism and what we are doing here at VRA is a testament to that,” he said.
Mr Agyenim-Boateng said this was not the first time that SIC Insurance PLC was honouring such an obligation to the VRA.
“In 2021, SIC Insurance PLC paid $4.3 million to VRA in insurance claim for one of its generators that was insured with us. Today, we are paying more than $1 million in insurance claim to VRA following the explosion of the Authority’s Heat Recovery Steam Generator,” the Acting Managing Director of SIC Insurance PLC said.
He said this was to send a strong signal to the business community that SIC Insurance PLC had the strong financial muscle to pay claims and on time.
“We value our relationship with our customers and we want to send a strong signal to the market that SIC has the capacity to underwrite the policies we do and when bad times come we won’t turn our back on them, we will honour and carry through our obligations,” he assured.
The SIC Insurance Company PLC CEO said the company was ready for business, and called on the business community to work with them adding that “when bad times come we will come to your aid. We are the only insurance company that will chase you for your cheque as we have done with the VRA.”
The VRA CEO on his part, commended SIC Insurance PLC for the payment and called for closer collaboration between the two institutions.
“We are two state agencies and whatever it takes for us to make sure that the state agencies work efficiently and effectively, we should do it together and also cooperate with each other to project that, at least , the state agencies can do the business just as the private people can do it,” Mr Obeng-Kenso said.
