… says ‘we’ve paid claims worth over N1bn’
Following allegations of unpaid claims levelled by some insurance policy holders against Consolidated Hallmark Insurance Plc as reported by The Point last Monday, the insurance firm has declared that the company is not liable to their losses.
The company argued that there were certain conditions that were not met by the patrons of the Goods-in-Transit policy.
One of the subscribers of the GIT product and the Chairman, INN2 Haulage Limited, Mr. Daniel Ige, for instance, had alleged that the company had not paid claims valued N5million on his goods that were declared missing in transit between Lagos and Port Harcourt, Rivers State.
According to him, the truck, which was not driven by his employee, was diverted from Apapa where it loaded Honeywell Flour Mills product to Alaba Market in Lagos, before it went off the ‘radar’.
However, in a document made available to The Point by the insurance company, which dwelled on ‘disappearance clause’, the subscribers had been warned to meet certain conditions if they were to expect claims for their losses.
“Loss due to the disappearance of the conveying vehicles and the goods loaded on in whatsoever form is excluded under the GIT policy. This policy does not cover any loss or damage occasioned by any act of fraud or dishonesty on the part of any driver or other person in the service of the owner(s) or the vehicle(s) or in charge or control of the vehicles or the goods insured hereunder,” it
stated.
The Head, Technical Division of the company, Mr. Orjiako Jimalex, explained that the policy holder also had the firm’s Fidelity Guarantee Policy that frowned at certain actions.
One of them, according to the document, is that the policy holder must ensure that the employees insured within the policy are duly employed by the insured and that there are documentary evidence(s) to prove this. Also, the duties of each employee are segregated and clearly defined so that no one employee is permitted to control a transaction from start to finish and that dual control is established.
Jimalex said, “Consolidated Hallmark has paid claims worth over N1billion and is still processing hundreds of them from its offices across the nation.
“Our policy documents are detailed on all conditions. All our terms are visibly indicated on our communication materials and policy documents. We have invested in technology and infrastructure to provide relief for our patrons on claim
settlements.”
