Journalist Takes Palm Insurance to Task

…..wants CBL to investigate

MONROVIA-The publisher of The New Republic Newspaper has called on the Central Bank of Liberia to investigate Palm Insurance Corporation(PIC) for carrying out unprofessional and unethical  practices in the country, especially against its customers. A Press Release issued on Sunday said.

In a  letter of complaint filed to The Central bank of Liberia, Mr. Alphonso Toweh  wrote that  the Insurance company failed to underwrite a liability for one of his vehicles which was involved into accident this month.  According to the corporation, its new policy has a clause which does not allow  to incur liability for any vehicle if a client owes.

“According to PIC,  it has a revised policy which supersedes what was given to me last year; and  expires end of February, 2021.  The earlier policy given to Mr. Toweh expires February this year but does not have any such clause.  Palm said, it has a new policy which  copy was not given to  the publisher,” the letter  stated.

In a preliminary investigation carried out at PIC office, all  documents and receipts   requested by the Insurance corporation from Mr. Toweh to authenticate his claim were correct.  Later, the  corporation realized that there were inconsistencies in  the documents processed in their office which led to them holding an emergency internal  meeting  with their staff.

This is the second time for PIC to carry out incorrect  preparation  of documents. Early this month, PIC issued a Tricycle document to Mr. Toweh instead of  Toyota Pickup. After discovery, it was immediately corrected.

“As a supervisory body, I would appreciate were you to intervene  into this matter in the shortest possible time,” the letter  addressed to Central  Bank Executive Governor, J. Aloysius Tarlue  stated.

It is about time for Insurance companies in the country activities  be carefully scrutinized as many of them are only interested in taking customers money and failing to perform the correct work, the statement concluded.

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