What do you do when you have lost confidence in the data provided by an insurance company, are unsure if they are wrong, and cannot formulate a formal complaint without comprehensive data which they hold
Briefly, I am executor for a case in which the deceased (my brother) had a number of policies with insurance companies.
As executor, I provided policy numbers to XYZ insurance co (one of the major insurance companies in the market) and requested a search for any other policies of the deceased. The list provided was submitted among the list of assets for probate, but was subsequently proven to have omitted one significant policy.
It also emerged that the company had held on to funds from a policy for almost 2 years after maturity, because the deceased had given no written direction on re-investment. By my reckoning, these funds should have been returned to the policyholder promptly during his lifetime.
Now, last week, when probate has been granted, and I claimed the proceeds, I was paid €9,000 short. When I pressed for investigation, they pleaded a "system error" and provided the funds.
On each situation, I have received apologies, but I have totally lost confidence in the integrity of the company. I don't know if they are holding back more. I cannot make a formal complaint to the ombudsman, since I don't know for sure if there is still a problem.
What to do??? After the first 2 problems, I asked for an investigation by their external auditor, but this was not forthcoming.
Briefly, I am executor for a case in which the deceased (my brother) had a number of policies with insurance companies.
As executor, I provided policy numbers to XYZ insurance co (one of the major insurance companies in the market) and requested a search for any other policies of the deceased. The list provided was submitted among the list of assets for probate, but was subsequently proven to have omitted one significant policy.
It also emerged that the company had held on to funds from a policy for almost 2 years after maturity, because the deceased had given no written direction on re-investment. By my reckoning, these funds should have been returned to the policyholder promptly during his lifetime.
Now, last week, when probate has been granted, and I claimed the proceeds, I was paid €9,000 short. When I pressed for investigation, they pleaded a "system error" and provided the funds.
On each situation, I have received apologies, but I have totally lost confidence in the integrity of the company. I don't know if they are holding back more. I cannot make a formal complaint to the ombudsman, since I don't know for sure if there is still a problem.
What to do??? After the first 2 problems, I asked for an investigation by their external auditor, but this was not forthcoming.