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Can yourInsuranceCoverPDF Compressor Free VersionInsurance is an arrangement inwhich you protect yourself againesta bad happening in the futureby paying a regular amount ofmoney(premium) to an insurancecompany which agrees to pay yourcosts in case of a bad happening.While addressing the Rotary Clubof Rubaga-Kampala, the GeneralManager of Statewide InsuranceCompany, Mr. Emmanuel Mumira,highlighted the common pitfallsthat people get traped into whilecarrying out business with insurancecompanies. Below are someof them;Signing up for an insurancecoverSome people(clients) dont taketake time to read through thepolicy proposal provided by theinsurance company and end upsigning up for what they dontneed at the time. For example,someone may be interested inprotecting self againest thievies athome; instead of applying for a''Household'' insurance policy,he/she may apply for ''Baggalary''a policy that protects againesttheft but at a commercial enterprise.The cause of the accidentThe cause of the accident mustbe a trap?be clearly spelt out. It isadvised that insuranceclients report accidentsto Police as soon as theoccurance so that aninvestigation to establishthe true cause canbe launched. This isdone to rule out anyposibility of theaccident having beencaused on purpose orout of a client's negligence.The size and credibilityof an insurancecompanyIt is advised that someoneshould look out foran insurance companythat has a trackablerecord of settlingclaims. InUganda, insurance -companies are supervised by the InsuranceRegulatory Authorityand the InsuranceAssociationHe furtherpointed out thatStatewide InsuranceCompany has beenwww.boldtraveller.comsettling claims since itsestablishment in 1982and is still going strongdoing the same.Insurance IntermediariesThese are companiesthat sell insurancepolicies on behalf ofinsurance companies.These include insurancebrookers andInsurance agents. Aninsurance agent sellsinsurance policies forone particular insurancecompany, whilethe insurance brookersells insurance policiesfor many insurancecompanies. Some ofStatewide InsuranceCompany policiesinclude; Fire,Marine,Travel,Goods inTransit,Money,Worker'scompasation,MotorThird Party,Groupaccidents, Personalaccidents, Golf insurance,CustomesandPerformance Bonds,-Professional indemnity,Household insurance,Public Liability,Baggalary,Electronicinsuranceand Re - insuarance .38...................
PDF Compressor Free VersionPlot No.1 Bombo Road, Sure House Tel: 0414 345996/0312 262119Email: swico@infocom.co.ug, swico@swico.co.ug Website: www.swico.co.ugwww.boldtraveller.com39...................
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