SIC Insurance PLC recently paid a non-motor vehicle insurance claim of $1,020,777.98 to the Volta River Authority (VRA) in Accra.
The payment was made under VRA’s all-risk property policy. It was related to an explosion in a boiler feed pipe at the VRA’s heat recovery flow generator in Aboadze, Takoradi, in the Western Region.
During a cheque presentation to VRA’s CEO, Mr. Edward Ekow Obeng-Kenso, SIC Insurance PLC’s Acting Managing Director, Mr. James Agyenim-Boateng, emphasized that the claim payment demonstrated the company’s commitment to fulfilling its obligations and prioritizing customer satisfaction.
“SIC is trustworthy. We value our relationships with customers and deliver our services with integrity, excellence, and professionalism,” Mr. Agyenim-Boateng said. “This is the best proof of that.”
This was not the first time SIC Insurance PLC had met its obligations to VRA. In 2021, the company paid $4.3 million in claims to the VRA for one of its generators.
“This time, we’ve paid over $1 million for the explosion at the heat recovery steam generator. This should send a strong message to the business community that SIC Insurance PLC has the resources to settle claims promptly,” said Mr. Agyenim-Boateng.
He further added, “We value our relationships with clients and want to reassure the market that SIC can handle the policies we underwrite. In tough times, we won’t turn our backs on our customers. We will meet and honor our obligations.”
Mr. Agyenim-Boateng concluded, “SIC is ready for business. We invite others to do business with us. When challenges arise, we’ll be there to help. We’re the only insurance company that will chase you for a cheque like we did with VRA.”
In response, VRA’s CEO, Ing. Obeng-Kenso, praised SIC Insurance PLC for the payment and called for closer collaboration between the two organizations.
“We are both national institutions, and we should work together to ensure that we can conduct business efficiently, just like private enterprises,” he said.
