info@businessghana.com
Our attention has been drawn to a media briefing and subsequent publication by one Alex Kwaku Tetteh, claiming unfair treatment with regard to a claim on his Motor Insurance policy with the company.
On 29th May 2020, Mr. Tetteh held a press conference informing the media about the matter. He was particularly unhappy that the insurance monies were paid to Universal Merchant Bank (UMB).
The facts of the matter are as follows:
In November, 2016, Mr. Tetteh took out a one-year comprehensive motor insurance policy in respect of a Fiat Iveco. UMB was named as an additional insured and Loss Payee (that is, the entity to whom any insurance monies would be paid in the event of a claim).
The said vehicle got burnt sometime in 2017 and Mr. Tetteh made a claim on the policy. We entered into negotiations with him to settle the claim, based on the proven value of the vehicle per documentation submitted. He however refused our offer and proceeded to Court seeking three reliefs.
After full trial in which Mr. Tetteh himself gave evidence, judgment was given in our favor for all three reliefs.
Following delivery of the judgment, UMB as Loss Payee accepted our initial settlement offer of GHS151, 859.01 and executed a Discharge Form, based on which we made payment to the Bank on 20th December, 2019.
With the said payment and the Discharge Form, our liability in respect of the policy was concluded and we therefore have no further liability towards Mr. Tetteh or UMB.
Enterprise Insurance is committed to excellence and fairness in our service delivery to our customers and other stakeholders at all times.
Enterprise Insurance is the oldest General Insurance Company in Ghana and has been in operation since 1924. The company takes its roots from the Royal Exchange Assurance Corporation of the United Kingdom, which commenced business in the Gold Coast in 1924, then became Guardian Royal Exchange Assurance Ghana Limited, (GREG) and subsequently, Enterprise Insurance Company Limited. The company’s guiding principles are enshrined in its core values of Excellence, Trust, Professionalism, Reliability and Friendliness. Enterprise Insurance is a subsidiary of Enterprise Group Limited.
