WAPIC Insurance: Change Of Company Name
News Date: January 20, 2021
PRESS RELEASE
SUBJECT: CHANGE OF COMPANY NAME
Accra, Ghana
15th January, 2021
We are pleased to inform you that our Company, formally known as Wapic Insurance Ghana Ltd is now to be known as Coronation Insurance Ghana Ltd, subsequent to all Board, Shareholders and Regulatory approvals.
By this action, the Company, with the adoption of Coronation Insurance, aims to reinforce our strategic partnerships, values and business philosophy, as well as provide an opportunity to position the Company with a name that we hope will remain indelible in the minds of our customers.
Please note that there has been no change in Management, address, phone numbers and range of products/services we o????er. Kindly also note that all existing policies remain valid.
The change of name signals a bold next step in our journey. We look forward to sharing our new corporate identity with you soon. Please accept the assurances of our highest esteem.
Yours faithfully,
FOR: CORONATION INSURANCE GHANA LTD
Signed by ADEDAYO AROWOJOLU
MANAGING DIRECTOR / CEO
FAQ & Most Read News
General Questions
There are many insurance companies that offer Life insurance
and many others that offer Non-life (General) Insurance in Ghana.You can
go to any of these insurance companies and take out insurance.Once you contact them, their staff will advise you on what they offer and what is best suited to your insurance need.Click to see the list of GIA accredited Life Insurance Companies and Non-Life (General) Insurance Companies.Insurance – Some Basic Steps
Once you have life with its possible unwanted outcomes, it is advisable to take an insurance against such possible unwanted outcomes. Also, as soon as you acquire a property it is advisable to choose an insurance to cover the risk of damage or loss to the property. Again anytime you have liability to another person for any damage you may cause the person, it is advisable to insure the liability. For liability insurance in the form of third party motor vehicle, commercial building under construction and commercial buildings you are required by law to take out insurance as an owner.
- Contact an insurance company, an insurance broker or an insurance agent
- Discuss your insurance needs with them.
- Think about the options carefully and then choose the product(s) that meet(s) your needs
- Supply truthful information for the completion of the insurance contract documents
- Sign the insurance contractPay your premium
- Receive an insurance cover for the risk(s) you have insured.
Once you have life with its possible unwanted outcomes, it is advisable to take an insurance against such possible unwanted outcomes. Also, as soon as you acquire a property it is advisable to choose an insurance to cover the risk of damage or loss to the property. Again anytime you have liability to another person for any damage you may cause the person, it is advisable to insure the liability. For liability insurance in the form of third party motor vehicle, commercial building under construction and commercial buildings you are required by law to take out insurance as an owner.
Protecting your life and property should be an important part
of your financial plan. Insurance protects you from financial problems
resulting from damage or loss either to yourself or to your property. It
is therefore important that you insure your life and property against
any unanticipated accidents, damages or loss. You can take insurance to
cover any of the following listed below:
- Death
- Accident
- Theft
- Fire
- Loss
- Damage
- Disability Health.
Broadly there are two kinds of insurance:Life Insurance which pays an insurance benefit when the person who is insured dies;Non-Life (General) insurance, which comes in many forms, including property, liability, disability, health and travel.
- Property Insurance provides protection against property damage and the insured is indemnified (compensated) if such damage occurs.
- Liability Insurance provides you with insurance protection if you are found to be liable for causing damage to someone’s health or property.
- Disability Insurance provides protection should you lose your ability to work and earn income, and pays you income if you are unable to work.
- Health Insurance covers certain medical expenses and prescription medications.
- Travel Insurance provides protection against certain adverse occurence during travel such as illness or even missed flights.
Claims
- The insured (policy holder)
- The third party whose property has been damaged by our insured's vehicle
- The injured victim
- Administrators of a deceased estate
- Parents/guardians in the case of minor.
Non-motor insurance comprise of several lines example public
liability, professional indemnity, personal accident etc. Each non-motor
insurance claim has its own specific claims procedure and conditions.Generally, when an accident occurs the insured should comply with the following :
- Report to the police.
- Contact your broker/insurer and fill the specific claim form.
- Do not settle or negotiate to settle, admit or repudiate any claim without the consent of your broker/insurer.
- Forward all relevant documentary evidence in respect of the loss.
- Forward all claims, writs of summons or letters from third parties to your broker/insurer through insureghana.com.
1. If your vehicle was driven without your consent, order or permission.
2. When an unlicensed driver was driving
3. When the claim is statute barred i.e claims not submitted within the three (3) or six (6) years period.
4. Where there was a change of ownership on the vehicle without reference to us.
5. Using the vehicle whilst the driver was drunk.
6. Using the vehicle for unauthorized purposes.
2. When an unlicensed driver was driving
3. When the claim is statute barred i.e claims not submitted within the three (3) or six (6) years period.
4. Where there was a change of ownership on the vehicle without reference to us.
5. Using the vehicle whilst the driver was drunk.
6. Using the vehicle for unauthorized purposes.
MOTOR
A. Own damage
- Report the loss to the insurer and fill the accident report form.
- Attach a copy of the driver’s license.
- Furnish the insurer with an estimate of the cost of repairs from either the insurer’s recommended garage or a repairer of your choice.
- Provide pictures of the damaged vehicle, clearly showing the registration number of the accident vehicle.
- Allow damaged vehicle to be inspected by the insurer’s surveyor before the commencement of repairs.
- Police report would be required, depending on the circumstances leading to the loss.
- Letter of claim
- Police Report
- Furnish the insurer with an estimate of the cost of repairs from either the insurer’s recommended garage or a repairer of your choice.
- Provide pictures of the damaged vehicle.
- Provide driving license of the insured’s driver.
- Letter of claim
- Police Report
- Medical report
- Original receipts of Medical Bill incurred (To justify the cost being claimed for)
- Sworn Affidavit.
- Letter of claim
- Police Report
- Death Certificate/Burial permit/Post-mortem report
- Letters of Administration
- Personal Particulars of the deceased
- Sworn Affidavit
- Endorsed passport size pictures of Administrators (two each).
Under all insurance contracts, damages or losses incurred
must be reported to the insurance company for the purpose of making a
claim. In most cases a report must also be made to the police. Under a
motor insurance for example, you must report any accident to the police
as soon as it occurs to enable you to begin the processes for making
insurance claims.Failure to report an accident can subject you to
personal liability if the persons involved later find themselves to be
injured and your insurance company denies the claims due to your failure
to report the accident promptly.
This is what you are paid in the case of an accident or loss for
which you have insured. Once you have entered into an insurance
contract and paid your premium, you are entitled to compensation from
the insurance company for any damage or loss suffered. The extent of
compensation depends on the type of insurance.
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