Ghanaian businesses advised to treat cargo insurance as investment and not costMrs Mercy Naa Korshie Buampong, Chief Executive Officer of Serene Insurance Company Limited, has urged businesses to regard marine cargo insurance as an investment in business continuity rather than an additional operational cost. She said marine cargo insurance premiums generally represented a small proportion of the value of imported goods while providing significant financial protection. She explained that cargo insurance covered not only the value of the goods but could also include freight charges and certain customs-related costs. She cited ship collisions, fires, grounding, water damage and general average contributions as examples of the risks businesses could face during international trade. She stressed the importance of importers providing accurate information on cargo values, destinations and transport arrangements when purchasing marine cargo insurance to avoid disputes and inadequate compensation in the event of loss.