Courier service providers urged to consider insurance

InsuranceThe Ghana Postal and Courier Services Regulatory Commission has encouraged courier service providers to consider insuring their property and cargoes to alleviate the effect of losses in disasters.

This advice was given when the Regulatory Commission visited some courier service providers around the Kwame Nkrumah Circle, Avenor, and Abossey Okai, who were affected by the June 3 floods, in Accra.

The visit revealed that for most of the service providers the parcels in their custody, which were destroyed in the flood were not covered by insurance policies.

Mr Isaac Annan Riverson, the acting Executive Secretary of the Postal and Courier Services Regulatory Commission, said it was important for courier service operators to have insurance packages that would help cushion them in cases of disasters.

He also encouraged members of the public who had lost parcels due to the floods to exercise patience with the companies.

Mr Eric Obeng Wiafe, the Head of Courier Service, Intercity STC Package Express, explained that the company also lost a large quantity of parcels in the June 3, flood as the store for the parcels was filled with water to the level of about three feet deep.

He said the company’s insurance policy covered only goods in transit; explaining, “We have, therefore, contacted the affected customers and had operational empathy chat with them on the loss, which we classified, as an “Act of God.”

When the Regulatory Commission visited the VIPex Parcel Services, (VIP) near the Kwame Nkrumah Circle, the parcels officers stated that some goods were lost to the flood.

They comprised of mostly mobile phones and their accessories, estimated at GH₵50,000, and also some food stuffs and drugs.

Chisco Transport Nigeria Express (CTN), which provides courier services between Nigeria and Ghana, also lost many goods.

The company’s store room was filled with water.

Mr Emmanuel Agbom, a parcels officer with the company, said they had a policy with a Nigerian insurance company and with a Ghanaian company as well, but he could not provide details, saying that the management of the company would look into compensation issues.

The Accra-Kumasi Highway Express, the worst affected operator, lost many customers’ parcels, including passports, when its office was flooded to a depth of about six feet.

Speaking on behalf of the company, Mr Ortis Wadie said the company encountered some difficulties while trying to get insured, with insurance companies demanding that all vehicles used by the company be insured first.

He stated that the National Insurance Commission was reluctant to insure companies near the Kwame Nkrumah Circle, until the ongoing road works were complete due to the risk.

The OA Travel and Tours located at Avenor said it also recorded losses in the floods, but had insurance to alleviate the loss.

Source: GNA

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