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Ghana: Regulatory authority directs insurers to pay claims within seven days

July 24, 2014 - 6:00am

Ghana's National Insurance Commission has developed new guidelines requiring insurers to pay claims that have been verified as legitimate within seven days, Business & Financial Times reported.

Simon Nerro Davor, deputy commissioner of insurance, said firms failing to adhere to the new directive could face heavy sanctions. "All nonlife insurers are therefore required to prepare and submit a claims manual" to the National Insurance Commission by Sep. 30, Mr. Davor said

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