Tema-Ghana, April 27, CDA Consult – Mrs. Cynthia Kwarteng Tufuor, Tema Regional Manager of SIC Insurance Company PLC has revealed that Engineering and Construction Insurance Policies, are vital for safeguarding material damage to works against unplanned and sudden physical loss from any cause other than those excluded under the policy.
“There is also third-party liability coverage up to and not exceeding the specified amount for which the insured shall be legally liable as a result of accidental bodily injury or illness to third parties and damage to third-party property.”
“Contractors All Risk and Erection All Risk; Machinery Breakdown and Construction Plant and Machinery; Electronic Equipment; and Boiler and Pressure Vessel Insurance Policy are covers that seek to provide cover,” she explained.
Mrs Tufuor made the remarks during the Ghana News Agency Tema Regional Office Stakeholder Engagement Seminar, which serves as a forum for state and non-state actors to discuss national issues.
The monthly engagement also acts as an incentive for reporters to recognise their editorial contributions to overall national progress, as well as the expansion and promotion of the Tema GNA as the Industrial News Hub.
These insurance plans, according to Mrs. Tufuor, cover all third-party legal charges and expenses, as well as all expenses and costs incurred under the insurer’s written agreement.
“Coverage can also be extended for loss of or damage to the contractor’s plant and machinery used in the construction or erection,” she explained.
She went on to say that the Machinery Breakdown and Construction Plant and Machinery policies cover unforeseen and sudden physical loss or damage caused by factors such as casting and material defects, faulty designs, or any other causes not specifically excluded, requiring repair, replacement, or cash payment while the machine is at work, at rest, or in the process of being assembled.
While the Electronic Equipment plans cover loss or damage caused by negligence, operation, willful acts of third parties, explosion, implosion, over-voltage, or under-voltage, the coverage applies whether the covered products are at rest, at work, or in the process of being disassembled.
The Boiler and Pressure Vessel Insurance Policy, according to Mrs. Tufuor, covers the covered boiler from damage caused by an explosion or collapse.
“The policy also covers third-party property damage, as well as bodily injury or death to third parties.” “All third-party legal costs and expenses are paid, as are all expenses and costs incurred with the insurer’s written consent,” she said.
As a result, she urged business groups to seek insurance information on a regular basis: “Let us not assume or simply pretend that nothing will happen.” There is a continual need for safety since incidents do occur.”
According to Mr. Francis Ameyibor, Tema Regional Manager of the Ghana News Agency, it is critical for the media to champion national discussion and ensure that it includes everyone, including those in the marketplace, rural areas, communities, and literate and illiterate people, in the discourse.
He continued by emphasising the need of the media reaching out to all parts of society, regardless of socioeconomic position, because everyone’s voice important in public dialogue for national growth.
As a result, Mr. Ameyibor stated that the Tema Ghana News Agency Regional Office has established three main flagship news platforms to assist the people by giving unbiased, truthful, factual, accurate, and balanced news.
