By: Nyima Sillah
The Insurance Association of the Gambia (IAG) has condemned the comment made by the President of Gambia Transport Union (GTU) as ‘irresponsible and unbefitting of any leader worth his salt.’
Speaking at a press conference held in Kotu, Makareh Badgan, President of the Insurance Association of the Gambia said: “The Insurance Association of The Gambia (IAG) condemns in the strongest possible terms the derogatory comments made by the president of the General (Gambia) Transport Union, Mr Omar Ceesay labelling insurance companies in the Gambia as “SCAMMERS”.
He also said whilst the statement illustrates utter ignorance of the operations of insurance companies by Mr Ceesay, its effect is to misinform and misguide the unsuspecting public on the true purpose of insurance.
“All insurance companies operating in The Gambia are fully registered and licensed by the Central Bank of the Gambia which regulates their activities as they do commercial banks. What is even more disheartening is that the allegations are not only unsubstantiated, the police and Central Bank are also accused of collaborating with the insurance companies in perpetuating the “SCAM,” Badjan added.
According to him, IAG the core mandate of all insurance companies is to provide compensation or indemnity to its policyholders in the event of a loss caused by a risk which the policyholder has insured against and/or to compensate third parties and victims of road accident when the policyholders are adjudged to be legally liable for such accidents.
However, The Association also dismissed the allegation on the issue of the statistics regarding the three hundred motor insurance in the country. “The data we collected act in 2020 was less than 55 thousand cars and the latest figure last year was 90-95. These figures are exaggerating figures as we are below hundred thousand,” he added.
He said the insurance Association notes with concern the current increase in road accidents in the country and wishes to express their sincere condolences and sympathy to the affected families.
“The general public is assured that all legitimate claims will be processed expeditiously. It is worth mentioning that some of these accidents may well involve uninsured vehicles or unlicensed drivers leaving the victims with no legitimate insurance recovery. We are assuring the general public of our continued services in the interest of the nation.”
