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Our insurance company represents the interests of Gafoor’s

Oct 21, 2016 Letters

Dear Editor,
Thank you, Mr. Harris for your attention yesterday on our discussion with respect to the article printed on page 23 of your newspaper today and captioned, “Insurance Companies cancel coverage of Gafoor’s Complex”. As discussed, the article unfortunately is misleading.
Abdool & Abdool Inc. is an Insurance Broker and not an insurer. We are the appointed broker for a specific segment of Mr. Gafoor’s businesses. We therefore represent Mr. Gafoor’s interest and not that of the insurer/insurers.
A part of our responsibility to our clients is to ensure by all mechanisms available to us, that insurers are unable to cancel with immediate effect, any of our client’s coverages, but rather are contractually required to provide a notice of cancellation which guarantees our client a specific period in which suitable replacement coverage might be negotiated with other insurers. I can advise that Mr. Gafoor, as with all of our clients, is indeed afforded this small period of protection through our brokerage and best efforts will be made during this period to acquire replacement coverage.
It is unfortunate that some insurers have exercised their prerogative to withdraw support in this particularly difficult period for Mr. Gafoor. The construction of your article could result in considerable damage to a reputation acquired over forty three years of committed service to Guyanese industry and our company would be very grateful if you would take immediate steps to have it corrected in your next edition, as I am quite certain that it would have already caused great consternation among our clients.
Peter Abdool
ABDOOL & ABDOOL INC.
MANAGING DIRECTOR

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