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Chuks Udo Okonta
Handling an insurance company that is failing to honour claims payments can be traumatizing if you don’t know the appropriate way to go about it.
Claims payment ought to soothe the pains incurred from a mishap, but playing planks with claims payments, often causes more pains.
To avoid increased pains arising from non claims payments, it is important you do the following when expecting insurance claims.
*Use professional insurance brokers
Statistics have revealed that most policyholders whose claims payments are mismanaged do not use professional insurance brokers when buying their policies.
It is necessary you engage professional insurance brokers whenever you desire to buy an insurance policy.
Using a broker would not add any amount to the price of the policy, but offers you the best services and insurance advisory.
*Properly documentation of risks
One of the services you would get from insurance brokers is guide on how to document the risks you suffered.
A well documented risk, submitted with the help of a brokers would be difficult to be rejected by an insurance company.
*Report to insurance industry’s complaint bureau
The National Insurance Commission (NAICOM) and Nigerian Insurers Association (NIA) have an established complaint bureau set up to resolve issues between policyholders and insurance companies.
When an insurance company fails to handle your claims responsibly, the company should be dragged to either of the bureau.
*Leverage media support
The media has continued to serve positively in conflict resolutions.
This is done by hearing from policyholders and insurers before putting the issue in the public.
As no responsible organisation would like to be reported for bad thing or like bad press due to its corporate brand, affected insurance companies would find a middle ground to resolve the claims issue, thereby making the policyholder happy.
*Litigation
When all the aforementioned measures failed to yield the needed result, you can engage a lawyer and sue the insurance firm.
While it is the responsibility of insurance companies to honour claims payments, it is also important to note that frivolous claims wouldn’t be honoured.
As insurance thrives on the principle of utmost good faith, policyholders are expected to keep to the terms and conditions stated in the insurance policy documents.
Be rest assured that healthy insurance companies would pay all genuine claims. This therefore places on policyholders the duty to conduct due diligence and insured wisely.
