ZSIC General Insurance operations are collapsing following the institutions failure to settle claims and refunds on time and as they fall due.
The Zambian Business Times (ZBT) can reveal that a lot of customers of ZSIC general Insurance have been left in the cold with some simply abandoning their rightful claims due to the back and forth explanations with no refunds or claims being settled.
A check by ZBT with the Competition and Consumer Protection Commission (CCPC) further confirmed that a lot of clients have lodged complaints after failing to get any assistance from the ZSIC management.
CCPC told ZBT that they have resolved a total of three hundred twenty-three (323) cases of people claiming not to have received their pay out from ZSIC General Insurance after the maturity of their policies.
As if that was not enough, CCPC confirmed that they still have another total of three hundred and sixteen (316) cases that are still under active investigations, confirming that ZSIC general has serious operational and management challenges.
CCPC in their response to ZTB advised members of the public that whenever consumers are faced with challenges relating to unfair contract terms, the first step which the Commission advises complainants to undertake is by following the normal redress mechanism which requires the complainant to resolve the matter with their respective service provider before reporting to the Commission.
ZBT has received information from members of the public indicating that ZSIC is taking its customers for a ride, giving endless excuses and back and forth explanations, all in the effort to avoid paying out genuine claims and refunds. Some further complained that even their reporting to CCPC is taking even longer for them to get redress.
They told ZBT that the cost of hiring lawyers is prohibitive in Zambia, hence other resorting to abandoning their claims and refunds. Efforts to get a comment from ZSIC proved futile by press time.
