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Participants at a public lecture to mark Insurance Awareness Month in the Volta Region at Ho have scolded the industry for poor returns on premiums, delays in processing claims and murky and confusing policy details. Colonel Cyril Necku, (rtd) Deputy Volta Regional Minister, who was guest of honour, led the public outcry when he said insurance claims paid for his burnt brand new car was just enough to buy him two tyres. The expectation of the Deputy Regional Minister was that claims for a vehicle under comprehensive insurance cover should be enough to replace the lost one. Mr. Christian Dordor, Lecturer in Business Finance at the Ho Polytechnic, said the popular impression held that life policies were only beneficial to the holder when he died within term. Mr. Dordor hailed by scores of student participants from the Ho Polytechnic, said otherwise, claims paid at the maturity of the policy, made the holder poorer. For him, since the premiums were to be invested, rate of returns should not be lower than Treasury bill rate and should also be indexed to rate of inflation. This brought the insurance executives present to their feet, all explaining that Mr Dordor's assertion was perfect looking at the finance point of view but there was more to that in relation to the insurance business. Mr. Richard Yoa Fenuku-Doamekpor, President of the Ghana Insurers Association (GIA) and Col Necku both called for immediate improvement in the insurance business in the country. Mr. Fenuku-Doamekpor conceded that the challenge was huge and therefore the need for all in insurance to brace up, build confidence and trust in policy holders and stop premium undercutting. He particularly urged the media to help raise the stake of the insurance business in Ghana in national development. Mr. Fenuku-Doamekpor told the GNA that the developed world raises a lot of money from the business of insurance for investment and that Ghana must be do the same. On his part, Col. Necku said Ghana must accumulate funds to invest in crucial areas, noting that the business of insurance "is a positive catalyst in the investment process". "It is therefore not out of place to examine the performance of the insurance industry vis-�-vis the socio-economic and political climate of our country and offer appropriate suggestions for improvement".