Dignitaries unveiling the new policy
Imperial General Assurance, a leading insurance provider, has outdoored an industry-first Collision Insurance policy to meet the growing motor insurance needs of drivers and transport operators.
The new insurance product provides financial assistance to the insured for the replacement or repairs of vehicle parts owing to damage arising from collision with another vehicle or an object.
Welcoming dignitaries and stakeholders to the launch of the product, the acting Board Chairman of Imperial General, David Boafo, said the launch of Collision Insurance was in response to the needs of the market.
“The unveiling of this new product is an indication that the insurance industry in Ghana is growing and working towards developing tailor-made products and services that will meet specific needs.
This product will certainly bridge a yawning gap and endear us to the many customers out there. We pledge to do more in this regard,” he promised.
Hospitalization Benefits
Deputy Managing Director of Imperial General Assurance, Harry Ofori-Attah, revealed that Collision Insurance has a hospitalization benefit component that takes care of the health needs of customers beyond the road.
“The hospitalization benefit is not arising out of accidents, but it is as a result of the fact that when a person who has bought this collision insurance gets severely sick and is admitted to the hospital, that person, after three days, earns GH¢100 per day up to 30 days,” he explained to journalists.
Policyholders of collision insurance automatically enjoy all third party benefits. The policy also provides cover for own damage.
Present at the unveiling of the new product were industry big players including the Chief Executive Officer of the Ghana Insurers Association (GIA), Dr. Kingsley Kwabahson, President of the Insurance Brokers Association of Ghana (IBAG), Shaibu Ali and Solomon Lartey, President of the Chartered Insurance Institute of Ghana (CIIG), among others.
Headquartered in Labone, Accra, with branches and agency offices across the country, Imperial General Assurance is a wholly-owned Ghanaian insurance company providing non-life insurance solutions in Ghana.
Imperial is a member of Ghana Club 100 and the African Insurers Organisation (AIO). The company was adjudged the Fastest Growing Insurance Company and Most Indigenous Insurance Company at the 2023 Ghana Insurance Awards.
By Samuel Boadi