Lebanese arrested for operating an illegal insurance firm

The National Insurance Commission (NIC) in a joint operation with the Ghana Police Service on Tuesday August 3, 2021 arrested a Lebanese, Gabriel Medawar for operating  an unlicensed Insurance broking firm contrary to section 109 of the Insurance Act 2021 (Act1061) .

The illegal company operating under the business name, Harmonia Insurance Group, carried its modus operandi in a private building near the West African Examination Council (WAEC) Office at North Ridge, Accra. He was arrested together with two other accomplices believed to be his employees.

Preliminary investigations indicated that the suspect had been operating this illegal business for a long time unnoticed until, some intelligence information led the NIC to tighten its loop on him leading to his arrest.

Further investigations revealed that some apparently unsuspecting members of the general public including some renowned automobile companies have been patronizing their services.

The Police are currently investigating the matter with the view to bringing the perpetrators of these criminal acts to book. When found culpable, the appropriate charges will be preferred against them and the commencement of their prosecution in a Court of Law.

The NIC wishes to use this medium to caution the general public, corporate bodies such as automobile firms to desist from transacting business with such entities not recognized at Law. The Head of the operation, Mr Oliver Bio, Deputy Chief Manager (Legal) at the NIC bemoaned the tacit connivance of some motor underwriting insurance companies who should know better and cautioned that any such companies found culpable in respect of their business operations with Gabriel Medawar, Harmonia Insurance Group, would be dealt with accordingly.

SOURCE thebftonline.com

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