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Journalist takes Palm Insurance to task

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-wants CBL to investigate

The publisher of The New Republic Newspaper has called on the Central Bank of Liberia to investigate Palm Insurance Corporation (PIC) for alleged unprofessional and unethical practices in the country, especially against its customers.

Journalist Alphonso Toweh

In a letter of complaint filed to the Central bank of Liberia, Mr. Alphonso Toweh wrote that the Insurance company allegedly failed to underwrite a liability for one of his vehicles which was involved in an accident this month. According to the corporation, its new policy has a clause which does not allow it to incur liability for any vehicle if a client owes.

“According to PIC, it has a revised policy which supersedes what was given to me last year; and [it] expires end of February, 2021. The earlier policy given to Mr. Toweh expires February this year but does not have any such clause. Palm said, it has a new policy which copy was not given to the publisher,” the letter stated.

In a preliminary investigation carried out at PIC office, all documents and receipts requested by the insurance corporation from Mr. Toweh to authenticate his claim were correct. Later, the corporation realized that there were inconsistencies in the documents processed in their office which led to them holding an emergency internal meeting with the staff.

This is the second time for PIC to carry out incorrect preparation of documents. Early this month, PIC issued a Tricycle document to Mr. Toweh instead of Toyota Pickup. After discovery, it was immediately corrected.

“As a supervisory body, I would appreciate were you to intervene into this matter in the shortest possible time,” the letter addressed to Central Bank Executive Governor, J. Aloysius Tarlue, stated.
Thre communication noted that it is about time activities of insurance companies in Liberia be carefully scrutinized to ensure they provide professional services to the public. Press Release

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