Insurance companies reject GTU’s ‘scam allegation’


By Awa Macalo

The Insurance Association of the Gambia (IAG) yesterdady reprimanded the president of the General Transport Union, Mr. Omar Ceesay, for referring to insurance businesses in the Gambia as “scammers.”

IAG Makareh Badjan told journalists at a press conference that Mr. Ceesay’s statement demonstrates his ignorance of insurance company operations, as well as an attempt to mislead the public about the genuine 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 to commercial banks. What is even more disheartening is the GTU president also dragged along the police and Central Bank accusing them of collaborating with the Insurance companies in perpetuating the ‘scam’. The Insurance Industry considers these comments by the GTU President as irresponsible and unbefitting of any responsible.”

He said all insurance firms have the same basic mission: “to compensate or indemnify their policyholders in the case of a loss caused by a risk that the policyholder has insured against, and/or to recompense third parties including victims of traffic accidents where the policyholders are found legally accountable.

“We wish to assure the public of our continued services in the interest of the nation.

The Insurance Association notes with concern the current increase in road accidents in the country and wishes to express our 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.”