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Guyana: Whether property or home insurance is prevalent in Guyana; whether written insurance reports can be obtained

A representative of a private insurance company in Georgetown, Guyana, stated in a 3 June 2004 telephone interview that property or home insurance is not mandatory in Guyana, however a "significant" number of homeowners do purchase coverage from private companies. Further, the representative stated that financial institutions that provide mortgages require their customers to have insurance on properties for which they carry an outstanding mortgage (3 June 2004). The representative stated that some individuals would not be able to afford the monthly premiums for home insurance and would, therefore, remain uninsured (3 June 2004).

According to the representative, a policyholder must notify the insurance company of any claim against their policy within a regulated length of time, at which point the insurance company may require further investigation into the events leading up to the claim (3 June 2004). Once the claim is settled, the policyholder would be required to sign discharge papers releasing the insurer from further connection with the claim. The representative stated that a copy of the discharge papers would be left in the possession of the policyholder (3 June 2004).

Corroborating information could not be found among the sources consulted by the Research Directorate within the time constraints of this response.

This Response was prepared after researching publicly accessible information currently available to the Research Directorate within time constraints. This Response is not, and does not purport to be, conclusive as to the merit of any particular claim for refugee protection. Please find below the list of additional sources consulted in researching this Information Request.

Reference

Private Insurance Company, Georgetown, Guyana. 3 June 2004. Telephone interview with representative.

Additional Sources Consulted

One additional representative from a private insurance firm in Georgetown, Guyana, was not able to respond within the time constraints of this Repsonse.

The Office of the Commissioner for Insurance, Government of Guyana, was not able to respond within the time constraints of this response.

Internet Sites, including: Government of Guyana, Guyana Chronicle, Guyana News and Information, Guyana Times, Stabroek News.