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Insurance association to intensify public sensitization

Mar 3, 2015, 9:55 AM | Article By: Lamin Jahateh

The Insurance Association of The Gambia (IAG) this year will restore its public sensitization programme on GRTS radio and other private radio stations, as well as resume the publication of its magazine called The Insurance Forum.

The secretary general of the IAG, Henry Jawo, said these public awareness initiatives were put on hold in 2014 due to ongoing reforms at the IAG secretariat.

“The public demand for these has been encouraging over the last year. This shows that the programmes have achieved the desired results as the insuring public appreciates them,” Mr Jawo said during the annual general meeting of the IAG held at Seaview hotel in Kololi on Thursday.

Capacity building

Also, the IAG has lined up a series of training programmes for the staff, claims and motor manager as well chief executive officers of its member companies on certain technical subjects in their various areas of operations.

The training activities, to be held in collaboration with the West African Insurance Institute (WAII), will also touch on the Brown Card Scheme with the ultimate aim of acquainting members with the Consensus Brown Card which replaced the Secured Brown Card with effect from this year.

He said the training courses are geared toward augmenting and reinforcing the understanding of the beneficiaries in various aspect of insurance.

Industry grows

Almamy B Jobarteh, president of the IAG, told the AGM that the insurance industry had grown in size to 13 companies with the introduction of the Royal Insurance Gambia Limited.

“This is an important development taking into consideration the benefits economies gain from the establishment of new companies,” he said.

However, he added, despite the number of insurance companies, there still exist a lot of unexploited fertile areas in the Gambia’s insurance industry that the companies can further tap into.

Mr Jobarteh said the potentials for the insurance industry to further grow meaningfully and contribute significantly to the Gambian economy is bigger now, as the Insurance Act is being reviewed by the Central Bank of The Gambia.

He said the IAG continues to engage relevant stakeholders so that the concerns of the industry could be adequately captured, and the dynamics taken on board in the process of reviewing the Insurance Act.

The IAG continues to engage the Central Bank, as the insurance industry regulator, as well as the National Assembly on various aspects to assist the industry to grow and become more viable.

The AGM was held as part of activities marking the Insurance Awareness Week 2015, which began on 24 February.

During the Awareness Week, different stakeholders were engaged in a consultative forum with a view to enlightening them on issues of concern to the insurance industry.

The campaign also served as a platform for the insurance practitioners to further increase general public understanding of insurance and insurance policies.