---------------
------------------
---
Global Security Insurance Company Ltd
With a name that reminds you of parade grounds and khaki uniforms, Global security Insurance first gives you that psychological peace of mind you get when an efficient security officer stands guard outside your door while you sleep at night. Except that when you wake in the morning you would likely want to manifest that trust by giving them your risk management portfolio. Over the years, Global security insurance company has proven to thousands of individuals and businesses that such trust are absolutely well placed and very jealously guarded. Ok. So who are these guys? Global Security Insurance Company Ltd was established in 1996. 71.3% share of Global Security Insurance Company Ltd is owned by Gambians and 28.7% is owned by non Gambians. Its Headquarters is in Banjul , with a branch in Serrekunda.
SERVICE/PRODUCT PROFILEIn their words; “At GSIC, we take over your risk, spread it around the globe, and leave you with a peace of mind”. Well said. But that's not all! “Our service is based on a “needs approach: and this means working with you instead of selling to you. Therefore, an important element of our service involves a great deal of Risk Management through which your insurance premiums are reduced to the barest minimum, while at the same time your financial and legal obligations are adequately protected. Basically, this means a search for the best possible security that guarantees the maintenance of your financial status quo needed for stable, sustainable growth”. Who would ask for more? Below, find outlined, a broad perspective of the types of insurance dealt in at Global Security Insurance company. Each case will have to be assessed on its own merit to determine the extent of coverage and the specific terms and conditions applicable.
GSIC Fire Policy virtually covers all types of property and financial interest, including buildings and their contents: • Stock of merchandise in warehouses • Personal effects and precious items in residences • Loss of rent • Lost of profit to business house or trading firms • Cost of surveys and removal of debris, etc. as a result of damage by fire, explosion or lightning
In additional, we also provide coverage for loss or damage through malicious acts, civil strife such as strikes, riots, civil commotion, etc. GSIC also insures damage by natural causes such as storms, floods, earthquakes, etc., and damage through negligence such as bursting of water pipes, impact of objects with building and similar perils. We offer various coverages which can be tailored to meet specific needs. Including stock declaration policies, agreed value policies, new replacement value policies etc.
Apart from the compulsory insurance coverage, (Act Policy). We offer coverage ranging from the motorist's liability for damage to other peoples' property (i.e., Third-Party Policy) to accidental loss or damage to the motorist's own vehicle through overturning, collision, fire explosion, etc. and theft (i.e. Comprehensive Policy). Special cost-effective packages are available to garages and car dealerships to meet their particular needs. The unique feature of our Motor Insurance is that in addition to the cost of handling claims, including loss assessment, Arbitration and litigation, we offer coverage for Loss of Earning a substitute Car with respect to private cars, at predetermined limits, resulting from a covered loss or damage to the insured vehicle. We also offer special Cost-Schemes to cater for civil servants, officials of public corporations, companies, banks and NGOs in which premium discounts of up to 15% are granted in addition to any accrued “no claim bonus”. In addition, for private cars, GSIC provides Personal Accident Coverage to the insured and members of his family traveling in the insured's car (or substitute car), up to a predetermined capital sum. Personal Accident Coverage may be added to commercial vehicles' insurance policies to cover the driver and his mate for an additional premium.
The crime of theft in different forms has been on the increase. GSIC has designed innovative methods to meet various needs. Both business and non-business risks including private dwelling premises are covered. For businesses dealing in large quantities of stock and bulky items not highly susceptible to theft, GSIC provides coverage based on Probable Maximum Loss. This is an effective cost saving method as coverage is not only limited to items stolen, but damage to the premises, doors, windows, furniture, etc., inflicted in the course of theft or attempted theft. In addition, GSIC also provide Personal Accident Coverage for the watchman and members of the insured's household who may suffer injury or death during any theft operation.
Theft of money in the course of transportation by road, air, walking, etc. and theft of money deposited in safes in offices, etc. are common occurrences. Broad daylight robbery has also become a common phenomenon. The GSIC Cash in Transit/Safe Policy provides a good solution to this increasing problem. In addition to theft, GSIC covers damage to cash as a result of an accident involving the conveyance (vehicle or aircraft) or the person transporting it. The unique feature of this coverage is that Personal Accident Coverage is provided to the personnel transporting the money up to a predetermined capital sum
Dishonesty is an awful phenomenon which shows its ugly head particularly at workplaces, from small thefts to massive frauds, embezzlement and racketeering by employers. GSIC offers Fidelity Guarantee Insurance to employers in different forms to cater for various magnitudes of possible maximum loss from these hazards. Policies for individual employees, groups of employees and by category of employees are available to meet the specific needs of business houses.
In our daily activities, be it in our individual capacities, as servants, as business persons, manufacturers or any body corporate for that matter, we do things that cause damage, loss injury, death or disease to others as a result of our negligence. In law, these give risk to legal liability of varying degrees and under English common law, there is no quantum limited to such a liability. Each case is assessed on its merit based on various factors. Those particularly affected are hotel and restaurant operators who cater for all grades of clientele. GSIC offers different types of coverage to meet varying needs at predetermined insured limits. Loss or damage to property, injury or death caused by servants and domestic animals can all be catered for.
An employer, through negligence, may be liable to its employees at law for injuries, disease or death inflicted in the course of their employment. Under common law, there is no limit in quantum, and each case is assessed on its merit. The Injuries Compensation Act of 1990 of the Gambia has created strict liability for employers in respect to certain categories of employees, whereby regardless of negligence, the employers is obliged to provide compensation to the employee who gets injured in the course of the performance of their work up to specified limits. An Injuries Compensation Fund has been created to cater for obligation under this Act. The coverage GSIC provides is therefore a “bridging” one and that is, to provide for the gap between the limits under the statutory coverage and the much greater unknown liability that may arise in common law.
This is one coverage that every productive person needs. While we are strong and healthy, physically and mentally, we can work and earn to feed, clothe, and provide shelter for our families, and ourselves and to live decent and comfortable lives. This is the dream of every person. However, certain misfortunes and fortuitous events in life can easily jeopardise this noble goal. We run the risk of accident everywhere – in our houses, while walking, traveling by car, by air, at work, etc. It is just not avoidable. This causes death and deprives children and dependents of the needed financial support, causes injuries and disabilities giving rise to permanent and temporary loss of earning, etc. At GSIC you are offered well-designed polices to cater for these problems at an affordable price to everybody, depending on individual income. In addition, medical expenses incurred as a result of accident are catered for. Group Accident Schemes are also available for employers who wish to provide for key employees as a fringe benefit. The advantage of this coverage is that the employees involved are covered not only when they are at work, but even while they are home or going to or returning from their workplace.
GSIC also offers to engineering contractors, Contractors “All Risk” Insurance to provide coverage for damage to contract works (e.g., buildings, roads, bridges, etc.) as a result of fire, explosion and natural perils such as floods, storms, earthquakes, etc., and their legal liabilities for injuries, death, disease and damage to property due to their negligence. Contract plant and equipment, machinery breakdown, erection of miscellaneous insurances are offered at competitive terms. At GSIC, the policy is to provide what is needed at an affordable price. This is only possible with proper appraisal of the risks in the context of the client's unique circumstance through a Risk Management Process. In certain circumstances where GSIC do not have all the needed expertise, they use local expertise and their global connections where necessary - at their own expense. As part of GSIC's Risk Management Service, they advise on loss control, loss minimization and prevention to enable you to improve your risk exposure and save on premiums. After-Sale Service is also provided at GSIC to ensure that the insurances effected are up to date, both in terms of scope of coverage and relevance. GSIC's concept of insurance is therefore “ Partnership ” for growth and security.
Global Security Insurance Company Ltd . Keep checking for updates on the BLSE's pages.
GSIC's CONTACT DETAILS: Global Security Insurance Co. Branch Office: Sayerr Jobe Avenue , Serrekunda Tel: (220) 370999
|