-Lawmakers Want to Know Why GOL Agencies/Ministries Aren’t Doing Business with Nat’l Insurance Corporation

The plenary of the House of Representatives during its 9th day seating, invited the Liberia Revenue Authority, Central Bank of Liberia and the National Social Security and Welfare Corporation to appear before them on Tuesday, February 21, 2023 to explain why government ministries and agencies are not doing business with the national insurance corporation of Liberia but rather privates insurance companies in Liberia.

The communication, which was written by Nimba County District #9, Rep. Johnson N. Gwaikolo, Bong County District #3 Rep, Marvin Cole, Rep. P. Mark Jurry, Maryland County Electoral District #1 and Nimba County District #6 lawmaker, Rep. Dorwohn Gleekia, on the non-compliant posture of ministries and agencies of government to insure their staff and equipment with the National Insurance Corporation of Liberia (NICOL).

According to them, the law which was enacted on February 9, 1984, establishing NICOL – under Section III – Powers of the Corporation states, “The Corporation shall have the EXCLUSIVE power to affect all insurances of the Government of Liberia, Public Corporations and any other business in which the Government of Liberia is 50 percent shareholder or more.”

Their communication said, “It has been approximately five years since the President made an appointment at that institution, but we have noticed a complete lack of cooperation by Government Ministries and Agencies as required by law.”

They added that despite the lack of cooperation by these ministries and agencies, they have seen a great deal of progress by the current management team of NICOL towards the resuscitation of the Corporation.

To lead by example, the House of Representatives placed the insurance of the Central Administration staffers with the National Insurance Corporation of Liberia in June of 2022.

Additionally, the leadership of the House of Representatives invited several ministries and agencies last year to inquire why they have not been complying with the law by placing their insurances with NICOL, but up to present.

They further stated that there has been no progress made on the part of those ministries and agencies in complying with the law. There are presently about 14 registered insurance companies in the country, majority of them are foreign owned.

These companies are the ones lobbying for these government insurances from the various government ministries and agencies and taking the proceeds to their respective countries while the state-owned insurance corporation is being neglected.