Insurance companies that refuse to pay customers
Introduction: Insurance is meant to provide peace of mind, a safety net for when life throws curveballs. But what happens when that net fails to catch you? In Kenya, a number of insurance companies have been on the receiving end of client complaints for not paying out when a risk occurs. In this article, we delve into the companies that clients have reported issues with, offering insights to help you navigate the Kenyan insurance landscape.
- Xplico: Xplico is one of the companies that has been highlighted for having a high number of client complaints. According to the Insurance Regulatory Authority (IRA), Xplico had 43 client complaints in the first six months of 2021, making it the top company in general insurance with the most complaints.
- Resolution Insurance: Resolution Insurance has also been a subject of client complaints. In the same period, the company had 30 client complaints, placing it second in the list of companies with the most complaints.
- Trident Insurance: Trident Insurance rounds out the top three with 25 client complaints. The company’s high number of complaints has raised concerns among clients and the industry at large.
- Corporate Insurance: In the corporate insurance segment, a total of 26 client complaints were filed. While the specific companies are not mentioned, the number of complaints suggests a significant issue in this sector.
- UAP Old Mutual: UAP Old Mutual has also been mentioned in discussions about insurance companies with a high number of complaints. While specific numbers are not provided, the mention suggests that the company has had issues with client complaints.
- The Monarch: The Monarch tops the list of shame in a separate report, indicating a significant number of complaints against the company. The exact number of complaints is not provided, but the company’s position at the top suggests a high number of dissatisfied clients.
Conclusion: While these companies have been highlighted for their high number of client complaints, it’s important to remember that the insurance industry is complex, and complaints can arise for a variety of reasons. It’s always a good idea to do your own research and read reviews before choosing an insurance company. Remember, the goal is to find a company that will provide the support you
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