Justice Ofori takes over as Commissioner of Insurance

Mr Justice Yaw Ofori will take office on Monday, September 4, 2017 as Commissioner of Insurance following his appointment on July 12, this year.

He replaces Ms Lydia Lariba Bawa who had been the Commissioner since July 2013. As Head of the National Insurance Commission (NIC), which regulates the insurance industry, Mr Ofori is expected to drive policy initiation and implementation to help revamp the insurance industry and increase its contribution to national output.

He will also centre on getting the Commission to fully implement and enforce its regulations as well as prescribe sanctions to help sanitise the business.

Prior to his appointment, he was the Director of the Ghana Insurance College.He is a Chartered Insurer and has been a practitioner with specialisation on issues relating to claims, technically known as a Loss Adjuster.

He is scheduled to meet the Chief Executive Officers of all insurance, reinsurance and broking companies on September 6, 2017.

With insurance penetration around two percent, Mr Ofori will be expected to help grow the market through innovative policies and initiatives that will rope more persons into the insurance bracket.

He told the Graphic Business on Wednesday morning that he would be working with the industry and the government to help increase insurance penetration for the betterment of the insured and the country at large.

A detailed version of the interview is due to be published in the GRAPHIC BUSINESS and the Daily Graphic in the course of the week.