The newly inaugurated Board of the National Insurance Commission (NIC) have been urged to work hard to help expand insurance coverage and access to all segments of Ghanaian society, especially the informal and agricultural sectors.The Finance Minister, Dr Cassiel Ato Forson, in a speech read on his behalf by the Deputy Minis­ter for Finance, Thomas Nyarko Ampem, expressed concern about Ghana's low insurance penetration rate, currently below 2 per cent."We must think differently, act boldly, and innovate deliberately to build a thriving and inclusive insurance ecosystem," the minister emphasised.He said it was important to extend insurance protection to the informal sector, which constitut­ed nearly 80 per cent of Ghana's economy.Dr Forson called on the insurance companies to develop products that were tailored to the everyday realities of farmers, artisans, market traders, and other underserved groups."When a farmer in Garu loses a harvest to floods, or a trader in Makola loses stock to fire, the absence of insurance becomes an economic vulnerability," he noted. "We cannot afford to leave the majority of our population unpro­tected."He emphasised the vital role of insurance in strengthening national resilience, supporting disaster re­covery, and safeguarding long-term economic stability."Insurance must be a tool for climate resilience, a buffer for shocks, and a safeguard for our gains.

This is why embedding environmental, social, and gov­ernance principles into insurance operations is no longer optional," Dr Forson stated.He urged the NIC and industry stakeholders to improve enforce­ment of compulsory insurance laws such as those for motor vehi­cles and commercial properties by leveraging technology and systemic reforms rather than relying solely on punitive measures.Mr Christopher Boadi-Mensah who chairs the NIC Board, ex­pressed gratitude to the President, John Dramani Mahama, for the confidence reposed in them and pledged the Board's commitment to transformative leadership."We accept this honour with humility and a strong sense of pur­pose, we are inspired by the call to make insurance more inclusive and accessible, especially to the many Ghanaians in the informal and agricultural sectors who remain unprotected."He outlined some core priorities that will guide the Board's man­date, including expanding access to insurance nationwide, deepening market penetration and awareness through education and outreach, fostering innovation and digital transformation to modernise service delivery and ensuring the insurance sector contributes mean­ingfully to employment, economic growth, and national well-being.The other members of the board are the Commissioner of Insurance, Dr Abiba Zakariah, Ms Jean-Marie Formadi, the Presi­dent's nominee, Simoan Akibange Aworigo, President's nominee, David Clotey Collison, Emmanuel Amofa, Matthew Kweku Attai Aidoo. BY TIMES REPORTER