The Importers and Exporters Association of Ghana (IEAG) has partnered Insurance Claims Specialist Group (ICSG) Limited to provide specialised cargo loss assessment and claims management services to businesses.
The initiative is expected to strengthen support for importers and exporters as Ghana prepares to enforce its compulsory local marine cargo insurance framework.
The Association says access to insurance cover alone is not enough to protect businesses against losses. It wants traders to have the technical support needed to document damaged or missing consignments, assess losses and navigate the claims process.
Executive Secretary of IEAG, Samson Asaki Awingobit, says many businesses struggle to recover losses because they lack the technical expertise to pursue insurance claims effectively.
He believes the partnership will bridge the gap between securing insurance cover and obtaining compensation when cargo losses occur.
“Securing insurance cover is only one part of effective risk management. Knowing how to properly document, assess and pursue claims when losses occur is equally important,” he said.
Mr Awingobit added that reliable local claims assessment services would be essential to building confidence in Ghana’s marine cargo insurance system as more insurance transactions are handled locally.Ghana News Website
Chief Executive Officer of ICSG, Dennis Tufour, says cargo losses can extend beyond the value of damaged goods, affecting business capital, contractual obligations, employment and operational continuity.
“Marine cargo insurance is not merely paperwork at the port. It is protection for capital, contracts, jobs and business continuity,” he said.
Under the partnership, ICSG will inspect damaged cargo, establish the probable causes and extent of losses, gather supporting evidence and prepare professional assessment reports to facilitate insurance claims.
The collaboration will also include a public education campaign across radio, television, print and digital platforms, alongside stakeholder engagements and workshops.
The campaign will focus on insurance requirements, policy conditions, claims procedures, timely reporting of losses and measures to prevent cargo damage.
Small and medium-sized enterprises are expected to receive particular attention because of their limited capacity to absorb significant losses from damaged or missing consignments.
Mr Tufour has urged businesses to adopt three key practices when dealing with cargo insurance: “Insure correctly. Report promptly. Document professionally.”
The partnership comes as Ghana moves to strengthen the local marine cargo insurance framework, with effective claims assessment and management expected to play an important role in protecting businesses and improving confidence in the system.