GRi Business, Economics
& Finance 11 - 09 - 2003
Metropolitan Insurance launches Home Insurance product
Rise up to the European market - Trade Minister
Metropolitan Insurance launches Home Insurance product
Accra (Greater Accra) 11 September 2003 - Metropolitan Insurance Company on Wednesday launched a specially designed home insurance policy to protect holders against the risk of loss or damage to their properties and personal possessions.
The package known as MET Home Insurance will indemnify policy holders for losses or damages suffered as a result of fire, lightning, explosion and other such vagaries to their homes, contents and personal possessions.
Besides the provision of alternative accommodation as part of the policy, the insurance cover is automatically extended to domestic employees for injuries incurred in the performance of their duties.
Kojo Yankah, President of Africa Institute of Journalism and Communications, who launched the product, said there was the need for a change in attitude of Ghanaians towards insurance, as its importance had for far too long be taken for granted.
He said global trends indicated that knowledge-based societies were developing faster than those who lacked the opportunities to access relevant information on issues affecting their lives.
"We can bridge the poverty gap through informing ourselves and applying what we have learnt to our daily lives," he said. Daniel Aidoo Mensah, Chief Executive Officer of Metropolitan Insurance Company, said there was the need for education of the public on the importance of insurance in order to overcome the challenges facing the sector.
He said constraints such as inflation, low disposable income and lack of education had combined to rob people of the use of insurance as one of the major elements of personal financial planning. "In spite of these challenges, there is still a place for insurance in each individual's financial plan."
Mensah said the company hoped to consolidate the gains made in recent years by improving customer care and attending to the individual needs of client. In this direction, the company has started the second phase of its Information Technology strategy to enhance existing process and increase efficiency.
"We have recently acquired a new robust and reliable Insurance
Management System that is set to enhance our operations, especially in the area
of general and accident insurance business." The company also launched its
new website to act as a portal for new and existing users to obtain up-to-date
information on the company and its product portfolio.
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Rise up to the European market - Trade Minister
Accra (Greater Accra) 11 September 2003 - The Ministry of Trade, Industry and Presidential Special Initiatives (MOTI/PSI) on Wednesday asked Ghanaian participants to Ghana EXPO 2003 in the UK to rise up to the demands of the European market.
Briefing participants to the event, scheduled to run from 15 to 18 October 2003, Kwadwo Affram Asiedu, Deputy Minister of MOTI/PSI urged them to note that the European market was robust and should not be entered lightly.
The briefing was meant to get participants acquainted with the mode and scope of things to expect during the EXPO, which is attracting a number of personalities including ministers, the Asantehene Otumfuo Osei-Tutu, regional coordinating councils and other private sector operators.
The Ghana EXPO 2003, is a trade investment exhibition and conference event that offers a one-stop shop to showcase Ghana's potential in a range of products, including garments, textiles, handicrafts, agro-processing, agriculture, and tourism.
Asiedu said it was an opportunity to take hold of the European market, show the Ghanaian resilience and will to succeed. "You have to ensure that you take full advantage of the EXPO 2003, exhibit your best. Do not be intimidated whatsoever and strive to leave a memorable impact on visitors to the event."
He urged them to ensure that they make follow up calls and contacts a focal point to maintain a hold in the new market they would be entering. Asiedu said Ghana's High Commission in London was prepared and willing to facilitate the activities of participants.
Kwesi Osei Adjei, Deputy Minister of Foreign Affairs asked the participants not to sell themselves cheap but should rather make sure that they were adequately prepared to match-up with the demands of the international market.
He said government is putting adequate measures in place to facilitate a smooth exhibition and investment conference adding that, " we know the role and potential of the private sector and will support it to the hilt." He admitted that there was still a lot the private sector ought to know and gave the assurance that the Ministry has set up an Economic and Trade Bureau to see this vision materialise.
Adjei asked the participants not to overstay their visas since that tendency put the Ministry of Foreign Affairs in an uncomfortable position.
"You have to honour the terms for which the visas were given to justify
the role of the Ministry of Foreign Affairs in securing them in the first
place," Adjei added. Kwasi Owusu-Afriyie, Executive Director of EXPO Events
told the GNA that participants are guaranteed a trouble-free EXPO, saying it
would be one which would give them one of the greatest exposures of their
efforts.
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