Head of Products and Innovations at Star Assurance, Michael Adomako
Often times than not, insurance policyholders complain about the frustrations and difficulties they go through to claim their insurance.
But what if you are not doing things right? Do you pay attention to the content of the contracts or documents you append your signature to from insurance companies?
Michael Adomako, Head of Products and Innovations at Star Assurance in
Read full articlethis week's episode of Legal Agenda on GhanaWeb TV, takes us through some of the reasons why insurance claimants get frustrated or might be denied when trying to retrieve their insurance claims.
Michael Adomako, who was speaking on a panel on Legal Agenda with Matilda Nartey, explained that most policyholders ignore the procedures or the binding documents they sign before buying insurance.
He further stated that some policyholders do not show up on the days and times given to them to report to the offices for their claims.
“Insurance is a contract and contracts definitely have terms which should be respected. There are times that clients or claimants go ultravirus or go beyond the contract terms. They don’t respect all the contract terms so, in the event of paying claims, you would have to respect our contract; that is our policy document we issued out to clients and by virtue of one or two provisions, we may deny a claim.
“So, let’s say our contract states for motor insurance that you are supposed to have a valid driving license for a vehicle and you don’t have a valid driving license, in the event of a claim, we might deny you. We may not pay. Or we could also have in the contract certain conditions that when there is a claim, report within a certain time period. If you don’t report within that time period, we as insurers become prejudiced. We become a bit on the bad side by assessing and subsequently paying you your claim. So, you will realise that following our contract provisions, it sometimes becomes difficult to handle certain claims. That’s why we deny certain claims,” Michael Adomako said.
Watch the latest episode of Legal Agenda on insurance claims on GhanaWeb TV
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Head of Products and Innovations at Star Assurance, Michael Adomako
