GIF can insure the properties/interests belonging to State Government undertaking owned wholly or mainly by the State Government or properties belonging to Semi-Government bodies or any board or body corporate established by State Government under any industrial or commercial undertaking in which State Government has directly or indirectly acquired substantial financial interest whether as shareholder, lender or grantor or properties/interests acquired/created by individuals/Associations/subsidiaries created by any board/bodies/corporation/Co-operative and/or industrial/commercial undertaking/ institutions etc., with the help of direct and/or indirect financial loans/advances/guarantors etc., from the State Government. However as GIF has one office in Gandhinagar while its consumer spread all over Gujarat, according to the Finance Department’s resolution No. VNM-1094-1117-VS-1 dated 15/2/1995 GIF can go into Co-Insurance with Public Sector General Insurance Company as well as Private Sector General Insurance Companies. The sharing in Co-Insurance will be 45% share of GIF and 55% share to respective General Insurance Company.
GIF also Re-Insure or Co-Insure or hazardous risks with other Insurers and ensure wider spread of risk which is an essential principle of General Insurance.
Claims are also processed and settled in the same fashion as are processed by Various General Insurance Compnies .