The commissioner of insurance has noted that individuals who seek to use insurance as a source of income, should be mindful of their actions, as it may go against them.
Dr. Justice Yaw Ofori indicated that people who purchase same insurance policies from different firms for a given property with the aim of making claims from all angles risk loosing their money should an eventuality occur.
According to him in case of an accident where claims are required to be made to the insured, the undersigned firms will jointly put resources together to pay the benefits due the insured.
In expantiating further, Dr. Yaw Ofori added that it is only Life assurance policies that can be purchased from various firms and all benefits still made in full in case of uncertainties.
This to him is because life is said to be priceless hence the value placed on it is unlimited.
He made these remarks at a media encounter with a section of the press over the weekend.
He meanwhile prompted vehicle owners who have insurance cover for their property to be mindful of the garage they choose to service their vehicles from.
A garage without an insurance policy that covers all vehicles that visit the place, risk bearing the cost involved in case of any damage caused to an insured property.
No insurance firm will bear the claims in such instances hence, the need for individuals to choose wisely garages with insurance cover to safeguard their property, He intimated.
Source:Fiilafmonline/ShawanaYussif
