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A Source of Hope in the Post-War Era

Concord Times (Freetown)
NEWS
August 18, 2003
Posted to the web August 20, 2003

By Alpha R Jalloh
Freetown
Sierra Leoneans are presently grappling with the excruciating adversities
exhibited by the ten years war. The vicissitudes of life are pushing the poor
further down the poverty ladder. Hospital bills are soaring above the earning
power of the average man, children are dropping out of school and ending up in
ghettos, streets or in the case of the girl child, in brothels commonly known
as 'Kolonko centers', and unemployment is rising at an alarming rate. The
mounting social problems have not only become insurmountable for many average
Sierra Leoneans, but have also posed big challenges for a government that is
still struggling to lift an economy in the creeping stage.
The prevalent social problems have caused debilitating effects on the lives of
individuals and homes. Just think of some of them: Yesterday; 'Papa' died
leaving 'Mama' with six children. No money in the bank and no house to live.
The landlord/ landlady on the fortieth day issues a notice to quit. The
relatives promise to pay the fees of the children, but after the fortieth day,
each one has 'a big problem' and therefore find it difficult to honour their
promises. In the neighbourhood, Amadu and Thomas find themselves living lonely
lives after being abandoned by their wives who could no longer bear the
hardship after the husbands lost their jobs. Sorie who dropped out of school
last academic term was last week caught in a ghetto and has been charged to
court. His other colleagues were arrested for armed robbery and are facing
trial.
Think of a situation in which Mr. Longman went to his office and finds out that
his employee has disappeared with all the money in the office. Right down the
street, Mr. Bobby who had ten houses is now a poor man because his houses have
been razed by fire; these are few of the numerous stories that are heard daily
in Freetown and the country at large. In such a scenario, what must individuals
do? And what opportunities can institutions offer to alleviate the plight of
the masses?
In many countries, social security has been a mechanism to alleviate the plight
of the average citizen. In Sierra Leone it has been introduced but there are
hazards like fire disaster, bills for injuries sustained at work place, on
journeys and many more hazards encountered by people that are outside the scope
of the Social Security Scheme.
Over the years, insurance companies have been providing coverage for such
unforeseen contingencies.
And there are some like Trans-world Insurance Company that is experience in
managing such risks. The companies experience spans across the 80s to date. In
the 80s, it was the leading private insurance companies but its performance
dwindled as the war intensified. But today, the company is rising again rapidly
and has introduced various coverages that suit the earning power of people in
various walks of life.
The coverages provided by the company range from misfortunes in Motor
accidents, fire disasters, Burglary and house breaking, coverages for Public
liability for businessmen exposed to public claims, workmen's compensation,
personal accident, permanent disability, Group Personal Accident, Cash in
transit, fidelity guarantee which covers for loss of money resulting from fraud
or dishonesty, contractors risk which covers loss constructors incur in road
and house works, marine insurance that covers loss incurred for goods and items
transported by ship or air and the Advance Payment Guarantee which covers risk
for non-completion of contracts awarded.
'Our marketing strategy has developed as a leading component of the company's
policies that focus on the education of the citizens about the benefits
insurance offers to the public", says Mr. Tamba Sandy Marketing manager of
Trans-World Insurance Company.
Looking at the various risks the company offers, it can be discovered that
there is a distinction between their coverage and those of to other private
companies, because of the additional risks thay cover.
In post-war era, when many people have limited capital and ventures into many
business or encounters shocking disasters, they only sure way for financial
recoupment is through insurance policies like those offered by Tras-world
insurance Companies.

   

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