Mike Hammah receiving his certificate
SIC Insurance, Ghana’s largest and leading general insurance risks underwriter, is at an advanced stage of implementing its Enterprise Risk Management (ERM) programme.
The programme, when implemented, would enhance corporate governance, improve SIC Insurance’s ability to respond to changing business demands and also equip staff with a more efficient capacity to evaluate the likelihood and impact of major risks whilst providing an integrated approach to risk identification, measurement and management as against the silo approach.
Mike Allen Hammah, Chairman of the Board of Directors made this known recently at his graduation at the Ghana Insurance College in Accra.
Mr. Hammah noted that when fully implemented, ERM would provide the board and senior management of the company reasonable assurance that the company’s strategic and business objectives would be achieved.
He added that as a backbone of the insurance industry in Ghana, SIC Insurance has taken a giant leap with the implementation of its ERM programme.
“The Board is supervising the review of all existing risk management practices, augmenting internal controls and helping management to implement all recommended action plans to create the needed enterprise risk management enabled environment,” he said and expressed optimism that when completed, the programme would create value.
The demand for insurance in the country is growing and the role of directors has become vital, as insurance companies must cover the needed grounds to bring insurance products and services to the doorstep of customers.
In line with this, Mr. Hammah undertook a Diploma course in insurance at the Ghana Insurance College.
Via: -Daily Guide
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