By Makutu Manneh
The Insurance Association of the Gambia has recently toured the KMC to sensitize people on the importance of Insurance and the insuring of properties, in commemoration of the annual ‘Insurance Awareness Week’ activities.
The sensitization in the form of a caravan started from the Monument at West field towards Churchill’s Town to Serrekunda and back, with public address systems used in sending messages for local language listeners. According to the organisers, the theme for this year commemoration is: ‘The future of insurance in the Gambia: perspective of regulators, brokers and insurers.’
Mankaireh Badjan, president of the Association said insurance is important in the social development of a country because it provides financial protection against misfortunes. He said the ‘Awareness Week’ which is commemorated annually, sensitizes people and involves all stakeholders in the business to dialogue the way forward of the country’s Insurance industry.
Badjan said the aim for the ‘Awareness Week’ is for people to appreciate insurance and protect themselves and their properties.
“We are hopeful that with these efforts, Gambians will come out and insure,” he said. He said many people know about motor insurance but that there are fifty other insurance policies that Gambians can benefit from but do not know. He continued that they are in consultation with relevant stakeholders particularly their Regulator, Central Bank of the Gambia, to have an autonomous Commission that will look into Insurance Companies and regulate them properly, and assures that progress has been made in having this autonomous Commission.
Molifa Sanneh, Secretary General of the Association said the ‘Awareness Week’ has been celebrated for three decades now; that they started the ‘Awareness Week’ activities with a radio talk show to educate people on the significance of insurance.
“The association is thirty-five years now, when it started with few Insurance Companies. Right now, the association is stronger with eleven Insurance companies and hopes to increase this number,” he said.
Momodou M. Joof, Managing Director of West Africa Takaful said a successful economy must be backed by a successful insurance industry. He said insurance is the only business that grantees all other businesses in terms of difficulties because they give them necessary support to continue. He said they will continue to encourage the people, regulators and all stakeholders to try to know more about insurance because in Africa and Gambia in particular, they have a long way to go to create the necessary awareness.