Veteran Ghanaian businessman and former mining executive, Sam Jonah, has called on the country’s insurance sector to adopt practical measures to address the growing risks posed by climate change. Speaking at the 2026 Insurance Industry Summit in Accra on Thursday, he emphasized the urgent need for the industry to integrate climate risk management into its operations and products.
“Climate change is no longer a distant threat; it is here, impacting businesses, communities, and livelihoods,” Jonah said. “The insurance industry has a critical role to play in helping Ghana build resilience. This requires practical, actionable steps, not just theoretical discussions.”
Jonah urged insurers to develop products that provide coverage for climate-related risks such as floods, droughts, and extreme weather events, while also investing in data and technology to assess and mitigate potential losses. He stressed that proactive strategies would not only protect clients but also enhance the sustainability and profitability of insurance companies themselves.
Industry players acknowledged the call, noting that climate-related claims have increased in recent years, highlighting the vulnerability of sectors like agriculture, real estate, and infrastructure. Experts at the summit discussed innovative solutions, including parametric insurance, climate-indexed policies, and partnerships with international reinsurers to spread risk.
Jonah concluded by reminding the sector that addressing climate risks is not just a business imperative, but a societal responsibility. “Insurance is about safeguarding the future. We must ensure that future includes safety and resilience against the realities of climate change,” he said.
