Insurance coy sued over alleged failure to pay N3m claims
Wed Jul 18, 2018 11:14:am Finance
3.8K By Obiaks Blog
The Standard Alliance Insurance Company has been dragged to the Abia High Court in Aba over the company's alleged refusal to pay N3 million to a client on maturity of his life insurance.
The suit filed by Mr Okorie Mark, a businessman hinged his claim on alleged non-payment of "Income Protection Plan'' with code number IPP/11/000638/ABA, which commenced in 2011.
The applicant in his statement of claims said that following the terms of the policy, the company was to pay him the money in July 2016 when the policy matured.
Mr Benjami Emeri, counsel to Mark said his client neither defaulted nor breached any terms of the policy with the company within its life span.
Emeri said it was established that his client in the process of purchasing the policy over paid the company by N100, 000, thereby bringing the total contribution to N3, 100, 000.
Counsel to the applicant had averred that the controversy arose when the applicant approached Mr Uche Ochemba, the Aba Branch Manager of the company for his claims.
Emeri said Mark had written a letter to the headquarters of the company on Dec. 21, 2017 through the Aba Branch Manager to further press for the payment, but got no response.
The counsel said the applicant also sent a reminder on the subject matter on March 15, 2018, and was replied with a stinker which necessitated the suit.
Emeri said the Standard Alliance Insurance, in its letter to the applicant, signed by the Head of its Legal Department and his deputy, Mr Kasoki Olekanma and Mrs Nkiruka Uzoechi, respectively disowned the policy.
The company in the letter said it could not accede to Mark's request to be paid the assured sum of N3million when no policy existed.
The claimant's counsel however said the company later asked for the receipts of the instrument, to ascertain the veracity of the claims.
He said the applicant had done as directed by the respondents, by sending all the evidence of payment directly to the company.
According to him, the respondent is yet to respond to his last letter.
The applicant is seeking an order of court to compel the respondents to pay him the assured sum of N3 million with 10 per cent interest amounting to N3, 600, 000 until payment is completed.
He also prays the court to order the company to pay him N10 million as damages.
The other respondents in the suit are listed as Johnson Chukwu, Chairman, Bode Akimboye, CEO, Bolaji Oladipo, Executive Director and Uche Ochemba, Aba Branch Manager.
Justice Uche Enwereji, directed that the processes be served on the respondents before the next hearing date.
No date was fixed for the next hearing
NAN
The suit filed by Mr Okorie Mark, a businessman hinged his claim on alleged non-payment of "Income Protection Plan'' with code number IPP/11/000638/ABA, which commenced in 2011.
The applicant in his statement of claims said that following the terms of the policy, the company was to pay him the money in July 2016 when the policy matured.
Mr Benjami Emeri, counsel to Mark said his client neither defaulted nor breached any terms of the policy with the company within its life span.
Emeri said it was established that his client in the process of purchasing the policy over paid the company by N100, 000, thereby bringing the total contribution to N3, 100, 000.
Counsel to the applicant had averred that the controversy arose when the applicant approached Mr Uche Ochemba, the Aba Branch Manager of the company for his claims.
Emeri said Mark had written a letter to the headquarters of the company on Dec. 21, 2017 through the Aba Branch Manager to further press for the payment, but got no response.
The counsel said the applicant also sent a reminder on the subject matter on March 15, 2018, and was replied with a stinker which necessitated the suit.
Emeri said the Standard Alliance Insurance, in its letter to the applicant, signed by the Head of its Legal Department and his deputy, Mr Kasoki Olekanma and Mrs Nkiruka Uzoechi, respectively disowned the policy.
The company in the letter said it could not accede to Mark's request to be paid the assured sum of N3million when no policy existed.
The claimant's counsel however said the company later asked for the receipts of the instrument, to ascertain the veracity of the claims.
He said the applicant had done as directed by the respondents, by sending all the evidence of payment directly to the company.
According to him, the respondent is yet to respond to his last letter.
The applicant is seeking an order of court to compel the respondents to pay him the assured sum of N3 million with 10 per cent interest amounting to N3, 600, 000 until payment is completed.
He also prays the court to order the company to pay him N10 million as damages.
The other respondents in the suit are listed as Johnson Chukwu, Chairman, Bode Akimboye, CEO, Bolaji Oladipo, Executive Director and Uche Ochemba, Aba Branch Manager.
Justice Uche Enwereji, directed that the processes be served on the respondents before the next hearing date.
No date was fixed for the next hearing
NAN
Related News
Leave a comment...