The Importers and Exporters Association of Ghana (IEAG) has officially called for the immediate suspension of the newly introduced local cargo insurance policy. The association has cited a severe lack of stakeholder engagement and transparency from the National Insurance Commission (NIC) and the Ghana Revenue Authority (GRA) as the primary reasons for their opposition.
The policy, which mandates that all commercial shipments imported into Ghana must be insured by local insurance companies, was designed to retain insurance premiums within the domestic economy. However, the IEAG argues that the implementation process has been rushed and fails to account for the operational realities of international trade. Executive Secretary Samson Awingobit stated that the current framework creates additional “red tape” and could lead to unnecessary delays at the ports.
Central to the association’s grievance is the claim that the NIC failed to consult the trading community before finalizing the directives. Importers argue that being forced to use local insurers rather than choosing their own international providers 
violates the principle of freedom of choice and could lead to higher costs for consumers. They contend that the local insurance industry may not yet have the capacity to handle the high-risk complexities associated with global maritime and air freight.
The IEAG has warned that if the government does not halt the policy and return to the negotiation table, it could trigger a series of protests and further disrupt the supply chain. For now, the association is demanding a comprehensive review to ensure that the policy supports, rather than stifles, the ease of doing business in Ghana.
