Ghanaian businesses advised to treat cargo insurance as investment and not cost

Mrs Mercy Naa Korshie Buampong, Chief Executive Officer of Serene Insurance Company Limited, has urged businesses to regard marine cargo insurance as an investment in business continuity rather than an additional operational cost.

Mrs Buampong also explained the different levels of marine cargo insurance, noting that Clause A provided the widest protection by covering all risks except those specifically excluded, while Clauses B and C offered more limited cover depending on the nature of the cargo.

She said marine cargo insurance premiums generally represented a small proportion of the value of imported goods while providing significant financial protection.