SIC Insurance PLC has fulfilled its financial obligation to the Volta River Authority (VRA) by paying a non-motor insurance claim of $1,020,778.98.
The payment, made on Wednesday in Accra, falls under VRA’s Asset All Risk Policy and covers damages resulting from the explosion of the feed water pipeline connected to the boiler of VRA’s Heat Recovery Steam Generator at Aboadze, Takoradi, in the Western Region.
Presenting the cheque to VRA’s Chief Executive Officer, Ing. Edward Ekow Obeng-Kenzo, the Acting Managing Director of SIC Insurance PLC, Mr. James Agyenim-Boateng, reaffirmed the company’s commitment to honoring claims and prioritizing customer satisfaction.
“SIC Insurance is a reliable partner, and we highly value our relationship with our customers. Integrity, excellence, and professionalism define our service, and today’s payment to VRA is a testament to that,” he stated.
Mr. Agyenim-Boateng highlighted SIC Insurance’s history of fulfilling its obligations to VRA, recalling a $4.3 million insurance claim settlement in 2021 for one of the Authority’s generators.
“This latest payment, exceeding $1 million, further underscores our strong financial capacity to pay claims promptly. It also sends a clear message to the business community that SIC Insurance PLC is financially sound and ready to meet its obligations when the need arises,” he emphasized.
He assured policyholders that SIC Insurance PLC stands by its commitments. “We want to reinforce our message to the market: SIC Insurance has the capacity to underwrite substantial policies, and when challenges arise, we honor our obligations. We do not turn our backs on our clients,” he said.
Encouraging businesses to partner with SIC Insurance, he added, “We are open for business, and we stand by our clients in difficult times. In fact, SIC is the only insurance company that will chase you with a cheque, as we have done with VRA today.”
Expressing appreciation for the payment, VRA’s CEO, Ing. Obeng-Kenzo, called for enhanced collaboration between the two state-owned institutions.
“As state agencies, we must work together efficiently and effectively to ensure that public institutions operate just as successfully as private enterprises,” he stated.
The payment further strengthens the longstanding partnership between SIC Insurance PLC and VRA, reinforcing the insurer’s reputation for reliability in the Ghanaian insurance sector.
Source: www.kumasimail.com
