Everything you need
to know.

Yes. Third party motor insurance is a legal requirement for all vehicles driven on public roads in Guyana under the Motor Vehicles and Road Traffic Act. Driving without insurance is a criminal offence that can result in fines, seizure of your vehicle, suspension of your driving licence, and personal liability for any accident costs.

Third party insurance covers damage or injury you cause to other people and their property. It does not cover your own vehicle. Comprehensive insurance covers everything third party covers, plus damage to your own vehicle from accidents, theft, fire, natural disasters, and vandalism. The right choice depends on the value of your vehicle and your personal financial situation.

In most cases we can confirm coverage the same business day. For straightforward vehicles with complete documentation, cover can begin immediately upon premium receipt. Contact us at (592) 226-9245 or via WhatsApp.

Do not admit liability at the scene — even apologising can be problematic. Photograph all damage, vehicle positions, and any injuries. Collect the other driver's name, licence number, and insurance details. Then contact us immediately. We guide you through the full claims process from first notification to settlement.

Yes. We regularly arrange coverage for imported vehicles. You will need the shipping documents, a local valuation, and the chassis/VIN number. Contact us and we will walk you through the process step by step.

This depends on your specific policy. Some policies cover any driver; others are restricted to named drivers or drivers above a certain age. Always check your policy schedule before lending your vehicle to someone else.

Yes. Insurers typically reward drivers with a claims-free history with reduced premiums at renewal. Keep a record of your claims history and share it with us when obtaining a new quote.

If your vehicle is declared a total loss, your insurer will pay the market value of the vehicle at the time of the claim — not the purchase price. This is based on an independent assessment of the vehicle's pre-accident condition and current market values in Guyana.

A standard property insurance policy in Guyana covers fire and explosion, storm damage, flood, theft and attempted theft, malicious damage, and liability to third parties on your premises. Policies can be extended to cover loss of rent, alternative accommodation, and specific high-value contents.

Many properties in Guyana are underinsured because the sum insured was set years ago and never updated to reflect rising construction costs. The correct sum insured is the current cost of rebuilding the property from scratch — not the market value or purchase price. We recommend a professional valuation every three to five years.

Yes, absolutely. We arrange property insurance for Guyanese diaspora clients remotely all the time. The entire process — from initial enquiry to policy issuance — can be handled by email and WhatsApp. No visit to Georgetown required.

Flood coverage is generally available but depends on the specific location and flood risk rating of your property. Some areas of Guyana carry a higher flood risk and require specific policy terms. Contact us for advice specific to your property's location.

If your property is insured for less than its full rebuild cost and you make a claim, the average clause means the insurer will only pay a proportionate amount. For example, if your property is insured for 75% of its rebuild cost, the insurer will pay 75% of any claim — even for partial losses. This is why correct valuation is so important.

No. Your property insurance covers the building and your own contents. Tenants are responsible for insuring their own personal belongings under a separate contents policy.

Yes. Under the Workmen's Compensation Act of Guyana, employers are required to maintain insurance covering compensation payable to employees injured in the course of their employment. This applies to all employees, including part-time and contract workers. Failure to maintain this coverage exposes business owners to personal financial liability.

Public liability insurance covers your legal liability for bodily injury to members of the public, or damage to their property, arising from your business activities — on your premises or anywhere you operate. It covers both the compensation paid and the legal costs of defending the claim.

No. A fleet policy covers multiple vehicles under a single policy, with a single renewal date and typically better pricing than individual policies. We arrange fleet policies for operators of two vehicles upwards.

Professional indemnity (PI) insurance covers claims arising from errors, omissions, or negligence in the professional services or advice you provide. It is essential for consultants, engineers, architects, accountants, lawyers, surveyors, and any professional whose work or advice could cause financial loss to a client.

Contractor's All Risk (CAR) insurance covers construction projects against physical damage to the works, plant, and equipment, plus third-party liability arising from construction activities. It is mandatory for most construction contracts in Guyana, including all energy sector contracts.

Your home property insurance typically does not cover business activities or equipment. If you operate a business from home, you need a separate commercial policy to cover business assets, public liability for clients visiting, and any professional services provided.

Business interruption insurance covers the loss of income and additional costs a business incurs when it cannot operate normally following an insured event — such as a fire, flood, or storm. It is often overlooked but can be the most financially important coverage a business carries.

Yes. We handle the entire process remotely. You contact us by email or WhatsApp, provide property details and documentation digitally, confirm coverage, and we issue your policy electronically. Many of our diaspora clients have never needed to visit our office.

No. Home insurance policies are territorial — they cover only the property at the address listed in the policy. Your foreign home insurance has no relevance to a property in Guyana. You need a separate, locally-placed Guyanese property insurance policy.

We manage the claims process on your behalf. You notify us remotely, we coordinate with local assessors and surveyors, manage negotiations with the insurer, and keep you updated throughout. You do not need to be in Guyana for a claim to be handled correctly.

We recommend starting four to six weeks before your planned return date. This ensures motor, property, and any business coverage is in place from the day you arrive. Returning residents often need several types of coverage simultaneously — we can coordinate all of them.

Yes. Contact us to discuss payment arrangements. We can advise on the most convenient method for international clients, including bank transfer options. All policies are issued in Guyanese dollars.

Yes. We arrange group and individual life insurance, as well as health and medical plans, for clients' family members in Guyana. These can be managed and renewed remotely.

Yes. Automated cyberattacks do not discriminate by business size — they scan for vulnerabilities wherever they find them. In fact, smaller businesses are increasingly targeted precisely because they tend to have less cybersecurity investment. The average cost of a data breach is far beyond what most small businesses could absorb without insurance.

Ransomware is malicious software that encrypts your files and demands payment in exchange for the decryption key. A cyber insurance policy covers the cost of specialist incident response, ransom negotiation, system restoration, business interruption during the downtime, and any third-party liability for data that was compromised.

Energy sector contracts typically require Commercial General Liability (CGL), Employer's Liability and Workers' Compensation, Automobile Liability, Contractor's All Risk (for construction work), Professional Indemnity (for engineering/consulting), and Umbrella or Excess Liability. The specific limits and endorsements required depend on the contract. We review contracts and arrange all required coverage.

A Certificate of Insurance is a document issued by your insurer or broker that confirms your coverage is in place and summarises the key details — policy type, limits, additional insureds, and expiry dates. Energy sector operators require COIs before allowing contractors on site or executing contracts. We issue COIs promptly once your coverage is confirmed.

Guyana's Local Content Act requires that certain services, including insurance broking, be sourced from Guyanese providers where qualified providers exist. Abdool & Abdool Inc. is registered with the Local Content Secretariat. Working with us satisfies your local content obligations while giving you access to the international markets that energy sector risks require.

An insurance company underwrites risk — they accept your premium and pay claims. An insurance broker, like Abdool & Abdool Inc., works on your behalf to find the best coverage from the most suitable insurer at the best available price. We are independent — we are not tied to any one insurer, so our advice is always in your interest, not the insurer's.

Contact us as soon as possible after any incident that may give rise to a claim. Call (592) 226-9245, email services@abdools-inc.com, or send us a WhatsApp message. We will record your loss notice and guide you through every step of the claims process. Do not attempt to negotiate directly with the other party or arrange repairs before we have assessed the situation.

Book a free insurance review with us. We will go through your existing policies, assess whether your sums insured are appropriate, identify any gaps in coverage, and tell you honestly what we find — with no obligation to change anything.

Yes. Policies can generally be transferred to a new broker without cancellation. In most cases, we can take over the broking of your existing policies at renewal, and in some cases mid-term. Contact us and we will advise on the best approach for your specific situation.

We contact you before your renewal date with a review of your current coverage and market options. We never simply renew without checking that your coverage still meets your needs. If better terms are available in the market, we will find them.

As insurance brokers, we are typically compensated by commission paid by the insurer when we place your coverage. In most cases, this means our services cost you nothing directly — the commission is built into the premium structure. For complex placements or fee-based advisory services, we will always be transparent about our remuneration upfront.

The Guyanese insurance market comprises eleven (11) registered and licensed insurance companies. Of these, three (3) carry AM Best financial strength ratings. All insurance must be placed with companies registered and licensed in Guyana by the Office of the Commissioner of Insurance.

Guyana is a completely English-speaking country and all insurance law is English-based. As a result, virtually all insurance treaties are structured with London markets, and most insurance contracts use British policy wording rather than American wording. This is a feature of Guyana's legal heritage and its long-standing relationship with the London insurance market.

Local insurers typically retain approximately 20% of most policies as net retention. The remaining 80% is reinsured by treaty to London markets. This means that the financial capacity behind your Guyanese policy is ultimately backed by significant international reinsurance — providing strong security even for large or complex risks.

No. Sections 40, 41, and 42 of the Insurance Act of Guyana legally prohibit direct placement with any insurer not registered and licensed in Guyana. However, if local insurers cannot accept a risk due to limited capacity, a Special Broker's Licence holder — such as Abdool & Abdool Inc. — can place directly to London and international markets. A 9% premium tax is charged on exported premiums.

A Special Broker's Licence is granted under Sections 232–234 of the Insurance Act of Guyana. It empowers the holding brokerage to place insurance directly to London and other international markets when local capacity is unavailable. Abdool & Abdool Inc. holds this licence — one of the few brokerages in Guyana with this authority — and has used it to assist many clients with risks that the local market could not fully accommodate.

There is no tax on premiums placed with locally registered insurers. However, when coverage is placed internationally under a Special Broker's Licence, a 9% premium tax is applied to the exported premium and remitted to the Guyana Revenue Authority. This tax exists because the government cannot tax the profits of non-admitted (foreign) carriers directly.

AML stands for Anti-Money Laundering and CFT stands for Counter-Financing of Terrorism. Under Guyana's AML/CFT legislation, all insurance companies and brokers must verify the identity of every client before placing coverage. Insurance products can potentially be misused to launder money — for example by over-insuring assets or engineering false claims — and these requirements protect the integrity of Guyana's financial system. Non-compliance by insurers or brokers is a criminal offence.

Five documents are required: (1) Identity documentation — National ID or passport for all directors, beneficial owners, trustees, and shareholders holding 10%+ of share capital. (2) Proof of address — utility bill from GPL, GWI, or GTT issued within the last 3 months. (3) Certified copy of Certificate of Incorporation, Continuance, or Business Registration. (4) Copy of Tax Identification Certificate from the Guyana Revenue Authority. (5) Completed and signed Customer Verification Form.

A Beneficial Owner is any individual who ultimately owns or controls an entity, even if they do not appear as a director or registered shareholder. Under Guyanese AML/CFT regulations, any individual holding more than 10% of paid-up share capital must be identified and their identity verified. This includes indirect ownership through holding companies or trusts.

Yes. International documents are accepted for AML/CFT purposes. Valid passports from any jurisdiction are acceptable for identity verification. For overseas businesses, certified copies of foreign incorporation documents are generally accepted. Proof of address may be provided via a recent utility bill or bank statement from the home country. Contact us before submitting to confirm which specific documents will satisfy requirements for your situation.

No. Under Guyanese law, no insurance coverage can be formally bound until all required AML/CFT documentation has been received and verified. We can begin the quoting process and market placement in parallel while documents are being gathered, but binding is not possible until compliance is complete. We provide a clear checklist upfront to ensure nothing is missed and to minimise delays.

The Customer Verification Form (CVF) is a prescribed form under AML/CFT regulations that collects information about the nature of your business, the source of funds, ultimate beneficial ownership, and whether any directors or shareholders are Politically Exposed Persons (PEPs). It must be signed by an authorised representative of the entity. We provide the form and guide all clients through its completion at no charge.

Guyana uses a government-run National Insurance Scheme (NIS) as its mandatory workers' compensation mechanism, not a private insurance requirement. NIS contributions are compulsory for all employees aged 16–60 in insurable employment. Total contributions are 14% of wages: 5.6% deducted from the employee's pay and 8.4% paid by the employer. The current wage ceiling for NIS purposes is GYD $280,000 per month.

NIS provides disability income for workplace injury or accident, a small pension benefit, and long and short-term disability benefits. However, NIS benefits are not large, and critically, NIS does not cover employees for injuries that occur off the job. NIS also does not cover the employer for legal liability arising from employee injury caused by employer negligence.

NIS and Employer's Liability serve entirely different purposes. NIS provides benefit payments to injured workers. Employer's Liability protects the employer against legal liability for bodily injury, death, or property damage suffered by an employee arising from the employer's negligence. For negligence to be established, the employer must be shown to have been at fault. Given Guyana's increasingly litigious employment environment — and the perception of foreign companies as having deeper pockets — Employer's Liability is considered imperative by most corporate attorneys, even though it is not legally required.

A Group Personal Accident policy provides 24-hour coverage for employees for accidental death, permanent total disability, partial disability, loss of vital limbs, medical expenses, and accident-related costs — both on and off the job. It fills the gap left by NIS, which only covers workplace injuries. GPA policies can be tailored precisely to the company's needs and benefit levels. Note that GPA does not cover medical expenses arising from illness.

A Group Personal Accident (GPA) policy covers accidental injury and death only — not illness. A Group Life & Health policy is broader: it covers death (ordinary and accidental), accidental dismemberment, long and short-term disability income replacement, and — crucially — medical and hospitalisation coverage including illness. Group Life & Health can also be extended to cover employees' dependents. For a comprehensive employee benefits programme, many companies use both.

Group life sums assured in Guyana are typically around 2× annual salary for ordinary death and 4× annual salary for accidental death or dismemberment. However, these levels can be set at any amount the client wishes. Five local insurers provide group life and health coverage, each maintaining a medical network. Abdool & Abdool benchmarks the entire market to find the best rates and conditions for each client.

No. Neither GPA nor Group Life & Health protects the employer against legal liability for bodily injury, death, or property damage suffered by an employee arising from employer negligence. For that protection, a separate Employer's Liability policy is required. We strongly recommend combining Employer's Liability with employee benefit coverage for complete protection.

A Group Pension Scheme is a structured retirement savings arrangement for employees. In Guyana's competitive labour market — particularly in the energy sector — a pension scheme is a highly effective employee retention tool. Pension schemes in Guyana follow specific regulatory rules. Abdool & Abdool writes pension schemes from scratch, tailored to the organisation's objectives and workforce. This is typically considered once the business is established and looking to strengthen its long-term employee value proposition.

As a minimum, you will need motor insurance for any company vehicles (legally required), and we strongly recommend Employer's Liability (minimum USD $1M), Commercial General Liability / Public Liability (minimum USD $1M), All Risk or Fire & Perils on all property and equipment, Business Interruption coverage, and Goods in Transit if you are moving stock. Fidelity Guarantee and Money coverage are also considered high-priority exposures in Guyana. Contact us for a full risk assessment specific to your operations.

We recommend Commercial General Liability and Employer's Liability of no less than USD $1M any one loss/incident and in the aggregate. For motor, we recommend comprehensive coverage with third-party limits of no less than GYD $3M per accident and GYD $5M in the aggregate, supplemented by an Excess Motor Liability Policy of at least USD $1M. These are minimum recommendations — higher limits may be appropriate depending on the scale and nature of operations.

Cash transactions remain common in the Guyanese economy, making businesses handling significant cash volumes particularly vulnerable to theft, robbery, and employee dishonesty. Money coverage protects cash on premises and in transit. Fidelity Guarantee protects against employee theft and fraud. Both are considered high-priority exposures for any new business in Guyana, particularly those handling consumer payments or managing significant stock.

Standard Guyanese insurance policies do not automatically cover expatriate employees in the way their home-country policies might. Specific consideration must be given to: medical and hospitalisation coverage for expats (local policies may have different terms), personal accident coverage both in and outside Guyana, potential repatriation costs, and whether the expat's home-country life insurance remains in force while abroad. We specifically address expat coverage as part of every new business insurance programme.

Goods in Transit insurance covers stock, equipment, and goods while they are being moved — for example, from a bonded warehouse to a business premises or between business locations. This is a particularly important coverage in Guyana given the road conditions, the distance between warehousing and retail or operational locations, and the value of goods that can be lost or damaged in transit. Open cover policies are available for businesses making frequent shipments.

Consumer Credit insurance protects a business or lender against the risk that a borrower defaults on a financed purchase. For businesses offering hire-purchase or instalment sales, Abdool & Abdool can negotiate discounted Consumer Credit insurance rates with preferred insurers — ensuring that financed assets are properly covered and that loss payable clauses correctly protect the financing party's interest throughout the finance term.