Accra, Jan 20, GNA - Nana Awuah Darko Anpem I, Chairman of Vanguard Group of Companies, on Tuesday presented an insurance certificate to Mr Peter Ala Adjetey, Speaker of Parliament for a one year insurance cover for the Speaker, Clerk and Deputy Clerks as well as all 200 Members of Parliament.

The cover, which is a gift, entitles the individual beneficiary to an amount of 10 million cedis in the event of any accident during this election year and 100 million cedis in the event of death of a beneficiary.

The presentation was made at a luncheon sponsored by Vanguard Assurance, a subsidiary of the Vanguard Group of Companies as part of the parliamentary week celebration. The week is being celebrated under the theme: "Parliamentary Democracy - Key to Sustainable Development." The Company also offered MPs a subsidy if they took a Foreign Travel Insurance Scheme.

Nana Anpem congratulated Members of Parliament for their dedication to the work of law making, adding that they deserved to be covered from all risks in their work.

Mr Mahama Emmanuel Baba, Chief Executive Officer of Vanguard Assurance, said the insurance cover was the Company's contribution to the national effort at deepening democracy. He said the work of insurance could be described as waste management, adding that to offer insurance cover to MPs was to underwrite political waste.

"Except for the omnipotent one, no one would dare to underwrite political waste because it is very difficult to pre-empt an election result, much less be sure of the security of the seat of an MP in Parliament," he said.

Mr Baba announced that the election year coincided with the 30th anniversary celebration of Vanguard Assurance, which was set up in 1974 as the first Ghanaian private insurance company in the Acheampong Era.