YAFO calls for the Abolishing of Third Party Insurance
As part of its advocacy work, YAFO last year set out to work on the Driver Mo Report. The general objective of the study was to ascertain vehicle insurance experiences in Ghana.
Young Africans for Opportunities (YAFO), a research organization has called for the abolishing of third party insurance and categorization of comprehensive insurance for utmost benefit of Car owners and Operators. This forms part of recommendations from the 2022 ‘Driver Mo’ Report recently launched by the YAFO in Accra.
As part of its advocacy work, YAFO last year set out to work on the Driver Mo Report. The general objective of the study was to ascertain vehicle insurance experiences in Ghana.
The research focused on the perception of vehicle insurance while ascertaining the current level of insurance access.
The ‘Driver Mo’ report was based on exclusive research based on vehicle insurance advocacy in Ghana. The report also aimed at stopping alleged police harassment of drivers, and igniting driver behavioral changes by advocating for better vehicle insurance policies that are market-driven and responsive to the needs of drivers. Project Lead for YAFO, Nathaniel Dwamena, told journalists on the sidelines of the launch event that the report would help transform the motor vehicle insurance industry in the country.
Presenting the findings of the research, Dwamena who is also the President of YAFO admonished insurance companies in the country to provide incentives that promote good driving.
He said the report detailed the performance of some insurance companies, alleged police harassment, and fraudulent dealings of some insurance companies that needed to be investigated.
Also, the report noted that most Ghanaians – about 82% often do not have an interest in filing complaints or reporting for reasons attributed to a bureaucratic delay in the processing, amounting to being awarded an insurance claim, and the perceived unwillingness of the insurance companies to pay for claims.
Dwamena emphasized that these findings are a threat to the Insurance space and need to be addressed immediately.
Making a remark on behalf of the Chairman of the National Insurance Commission (NIC), Charles Ansong Dankyi encourage Ghanaians to contact the commission whenever insurance companies refuse to pay claims.
“Where there is a legitimate claim and the insurance company refuses to pay the claims, the insurer must report the matter to the NIC who is the regulator for the necessary intervention,” he said.
Ansong Dankyi applauded the team of researchers at the Young African for Opportunity for launching the report.
Below is the full Report:
