Mr Frederick Quayenortey, Board Chairman of National Insurance Commission, has asked authorities of Ghana Insurance College (GIA) to develop tailor-made courses to address risks that would be associated with exploration of the country's oil find.
He said there was the need for appropriate and adequate trained manpower in the insurance industry to manage such risks.
Mr Quayenortey made the call at the third graduation of GIA in Accra on Friday.
About 200 students graduated with Advanced Diploma and Diploma in Applied Insurance Studies.
Out of the number, 80 students received Diploma while the rest received Advanced Diploma.
Ms Cynthia Kwarteng emerged the overall best student.
Mr Quayenortey said "government is putting together a local content law following the discovery of oil in the country", adding "it is our expectation that GIA would meet the challenge and organise tailor-made courses to meet this urgent need".
He charged GIA to develop other innovative courses to raise the standard of the insurance industry not only in Ghana, but in the West
African sub-region.
Mr Quayenortey challenged GIA to move beyond providing training in only insurance and introduce advanced management programmes for the products to feed other institutions.
Mr Justice Ofori, Director of GIA announced that within the next five years, the College would introduce programmes in Actuarial Studies and Masters in Risk Management to serve the needs of the industry.
He said GIA is currently working to secure accreditation for those courses.
Mr Ofori said GIA had signed a Memorandum of Understanding with Malta International Training Centre (MITC), giving it exclusive right to all MITC Diploma and Advanced Diploma programmes in Africa.
He said GIA had revitalised its core product line and expanded its professional offerings to effectively equip students for maximum results.
Mr Ofori advised the graduates to strive for excellence at their workplaces saying "those who persist will eventually be successful".
Professor Nana Opoku Agyemang, Vice Chancellor of University of Cape Coast called on higher institutions of learning, to build discipline in various fields to manage the multiplicity of opportunities that the oil
sector would offer.