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Our Insurance Claims Philosophy

At Goldstar, we believe that trust should be the foundation of our relationships with our clients – because of this; we try to be fair and straightforward when handling claims.

Good faith:

When you take out an insurance policy with Goldstar, you're getting the peace of mind that if anything goes wrong, we'll deal with your claim promptly and in good faith. Peace of mind, after all, is a key part of what insurance should be about.

Dedicated claims handler:

Our local team of experts are on hand to help you through the claim process with a dedicated claims manager. We believe in making the process as smooth as possible with minimal delays.

Financial Strength:

We have gone to great lengths to build our financial capacity through prudent Underwriting, a sound reinsurance strategy and reinvesting of profits over the years. We hold over 5 years’ worth of cash claim cover and our solvency margin sits comfortably at over 2,000%. With over UGX 26Billion in net assets, our clients have the comfort of knowing that in case of a claim, we have the capacity settle their claims at the right value on time. After all, why insure otherwise.

Historical claims payment:

We have a pedigree in claims settlement service which is underpinned by our strong financial base. Unlike other players in the industry, we do not rely on Reinsurers to settle claims. To us a claim is simply an opportunity to demonstrate our attributes of service and financial stability

Claims Procedures

Claims procedures vary from class to class but there are procedures that apply universally. Any occurrence which may give rise to any insurance claim must be reported to us immediately (not later than 7 days) you become aware of such occurrence, failing which your claim may be prejudiced on the grounds of late notification.

  • Claim forms must be fully completed and submitted with the necessary documents in support of your claim.

  • Thefts and motor accidents must be reported to the police immediately

  • Take action to prevent any further loss or damage

Please remember:

  • Your Insurers have the option to repair, replace, reinstate or pay cash and have the right to assess the loss.

  • Do not repair or replace lost or damaged property without obtaining authority from your Insurers.

  • Never admit liability of any accident.

  • Any right of recourse which may exist is subrogated to Insurers once we admit liability for the loss, and it is important that personal particulars

  • Do not dispose of damaged property and/or salvage.

  • Particulars of the 3rd party and any witness to be obtained.

  • Non-pursuance of recoveries is to the detriment of your overall claims experience.

  • Act at all times as if you were uninsured.

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