Insurance brokers need to assess carefully the commercial implications of the COVID-19 pandemic for their clients to protect themselves from the risk of claims, according to
Mr Shaibu Ali, vice president of the Insurance Brokers Association of Ghana.
Mr Ali, who is also the CEO of KEK Reinsurance Brokers (Africa), said insurance brokers were already inundated with queries from their clients relating to the impact of the pandemic, according to a report on Ghanaweb.
"The COVID-19 pandemic brings insurance brokers’ duties and obligations into sharp focus, both in terms of dealing with existing queries from their clients and the advice they provide on future renewals," he said.
He noted, "In addition to the challenges insurance brokers may face in dealing with insurance claims, they should also be mindful of potential risks in advising their clients moving forward."
He said from a practical perspective, most insurance brokers, insurers and their clients were likely to face a sustained period of home and remote working which will inevitably lead to a period of adjustment for the parties involved.
Madam Ernestina Abeh, managing director of Enterprise Insurance Company, said that the pandemic had fast-tracked moves by insurance companies in going digital.