The Importers and Exporters Association of Ghana (IEAG) has partnered with Insurance Claims Specialist Group (ICSG) Ltd to strengthen cargo loss assessment and insurance claims management in the country’s maritime trade sector, as Ghana moves towards enforcing a mandatory local marine cargo insurance framework.
The partnership is expected to improve access to professional claims assessment services for importers and exporters, particularly businesses that struggle to establish the extent of cargo damage, preserve evidence and secure compensation when insured goods are lost or damaged during transportation.
The initiative also seeks to address gaps in public understanding of marine cargo insurance, with the two organisations launching a sustained public education campaign to prepare businesses for the implementation of the compulsory insurance framework.
Executive Secretary of IEAG, Samson Asaki Awingobit, announced the partnership at a press conference in Accra on Monday, November 9, 2026, describing it as an important intervention to strengthen the institutional and professional support available to Ghanaian businesses engaged in international trade.
He said the association’s decision to collaborate with ICSG was informed by the need to provide members and the wider business community with access to specialised technical assistance when dealing with cargo losses and insurance-related challenges.
According to him, businesses often face significant difficulties beyond the initial loss of goods, including determining the extent of damage, understanding insurance policy requirements, preparing supporting documentation and pursuing legitimate claims.
He stressed that obtaining insurance cover alone was insufficient to protect businesses, arguing that importers and exporters must also understand how to properly document losses, assess damage and pursue claims when incidents occur.
“Our decision to partner with ICSG is therefore informed by the need to ensure that our members have access to specialised technical support when dealing with cargo losses and insurance-related challenges,” he said.
Mr Awingobit noted that the partnership had become particularly important given the country’s renewed focus on strengthening local marine cargo insurance and the impending enforcement of the mandatory local cargo insurance framework.
He explained that as more insurance transactions are domiciled locally, the availability of competent claims assessment and support services would be essential to building confidence in the system.
Cargo losses threaten business survival
Chief Executive Officer of ICSG Ltd, Dennis Tufour, said cargo losses could have far-reaching financial consequences for businesses, particularly small and medium-sized enterprises that depend heavily on individual consignments to sustain their operations.
He observed that a damaged or missing shipment could result in lost working capital, unpaid bank facilities, interrupted supply contracts, disappointed customers, delayed production and potential job losses.
He therefore argued that marine cargo insurance must be treated as an essential component of business risk management rather than merely a regulatory or documentation requirement at the ports.
According to him, goods transported through Ghana’s ports, airports, warehouses and road networks face several risks, including physical damage, pilferage, fire, accidents, severe weather, contamination and deterioration.
These risks can arise at different stages of the transportation process, from the point of packing and loading to shipping, transshipment, discharge, warehousing and final delivery.
He noted that while larger companies might have some financial capacity to absorb temporary losses, smaller businesses could suffer serious financial setbacks when a single shipment representing a substantial portion of their working capital is damaged.
Mr Tufour said appropriate insurance arrangements, prompt reporting of incidents, preservation of evidence and professional claims management were necessary to reduce the financial impact of such occurrences.
ICSG outlines role in claims assessment
Under the partnership, ICSG will provide specialised support in cargo loss assessment and claims management, helping businesses and other stakeholders establish the circumstances, probable causes and extent of losses.
Its services will include inspecting damaged cargo, documenting evidence, assessing the nature and extent of damage, identifying measures to prevent further losses and preparing objective assessment reports.
The company will also support the organisation and presentation of claims documentation and facilitate communication among cargo owners, insurers, insurance brokers, carriers, freight forwarders, port operators, warehouse providers and other relevant stakeholders.
Mr Tufour explained that professional loss assessment involved more than determining the monetary value of damaged goods.
It also required examining the circumstances surrounding an incident, the condition of the cargo and its packaging, the probable cause of damage, the quantity affected and the possibility of recovering some of the goods through repairs, repackaging or salvage.
He said independent and evidence-based assessments would help reduce misunderstandings among stakeholders and promote transparency and efficiency in the settlement of insurance claims.
He, however, clarified that ICSG’s role would be to provide technical information and claims-management support to assist insurers and other stakeholders in carrying out their respective responsibilities.
Importers urged to improve claims preparedness
As part of the public education campaign, ICSG is urging importers and exporters to strengthen their internal procedures for responding to cargo losses before such incidents occur.
Mr Tufour identified three essential steps businesses must follow: insure correctly, report promptly and document professionally.
He advised importers to carefully examine their insurance policies before shipping goods, paying particular attention to the identity of the insured party, the description and value of the cargo, the covered route, applicable risks, exclusions and deductibles.
He also urged businesses to notify their insurers, brokers and other relevant parties without unnecessary delay whenever cargo damage or loss is discovered.
The company further advised importers to preserve damaged goods, packaging, container seals and other relevant evidence, while taking photographs and videos to establish the condition of the cargo at the time the damage was discovered.
Mr Tufour explained that the quality of evidence available to support a claim could significantly influence the assessment process.
Using a practical example of an importer who discovers water-damaged goods after opening a container, he said a proper investigation would need to establish whether the container was damaged, whether its seals were intact, when the water entered and whether the damage occurred during shipping, port handling or inland transportation.
He said such questions required structured investigation and professional assessment rather than assumptions about the cause of the loss.
Compulsory marine insurance and local industry development
The partnership comes as Ghana intensifies efforts to strengthen local participation in marine cargo insurance.
According to IEAG, effective implementation of the compulsory insurance framework could help protect local businesses against significant cargo losses, strengthen the domestic insurance industry and improve access to claims support within the country.
It could also promote greater retention of insurance business locally and strengthen regulatory supervision of insurance arrangements involving imported and exported goods.
However, the organisations emphasised that compliance must go beyond obtaining insurance certificates, insisting that businesses must understand the protection provided by their policies and the procedures required when claims arise.
They also called for greater public education to ensure that importers, exporters, freight forwarders and other affected businesses understand the requirements applicable to their transactions.
ICSG pushes review of compensation limits under CAP 21
Beyond marine cargo insurance, ICSG has called for a comprehensive review of the compensation limitations under the legal framework commonly referred to as CAP 21, particularly regarding claims involving personal injury and death.
Mr Tufour argued that existing compensation limitations deserved renewed examination in view of inflation, rising medical and rehabilitation costs, changing wage levels and the long-term financial consequences of serious injuries and fatalities.
He said compensation for personal injury and death must reflect the actual economic and social consequences suffered by victims and their dependants.
He noted that serious injuries could result in permanent disability, continuing medical expenses, loss of income and long-term dependence on family members.
Similarly, the death of a breadwinner could deprive families of their primary source of income, affecting children’s education and the financial security of dependants.
ICSG is therefore proposing engagement with regulators, policymakers, insurers, legal practitioners, medical experts and victim representatives to examine whether the existing compensation limitations remain adequate.
Mr Tufour said any proposed reforms should be informed by claims data, actuarial analysis, legal principles, medical evidence and prevailing economic conditions to ensure that compensation is fair to victims while remaining sustainable for the insurance industry.
Public education campaign to target businesses nationwide
The two organisations also announced plans for a sustained public education and stakeholder engagement campaign using television, radio, newspapers, digital platforms, workshops and stakeholder meetings.
The campaign will focus on the importance of marine cargo insurance, applicable insurance requirements, policy exclusions, claims documentation, incident reporting, loss assessment and practical measures to prevent cargo damage.
Particular attention will be given to small and medium-sized enterprises, which often have limited financial reserves and access to specialised risk-management services.
Mr Tufour said the initiative would seek to make technical insurance and claims management issues easier for businesses to understand and apply in their daily operations.
He also identified technology as an important tool for improving the claims process, particularly through digital incident reporting, electronic documentation, photographic evidence and secure communication among authorised stakeholders.
The initiative is expected to bring together insurers, brokers, regulators, shipping companies, freight forwarders, port operators, warehouse providers and trade associations to improve coordination in addressing cargo-related risks.
Both organisations believe that stronger insurance awareness, professional loss assessment and effective claims management will help protect commercial investments, improve confidence in Ghana’s marine insurance market and build a more resilient trading environment.
