AfricaComplaints.com » Business & Finance » Complaint / review: Standard Bank - Misleading Insurance Cove | #36238

Standard Bank
Misleading Insurance Cove

On 18/11/12 after a storm I lost my retaining wall. My neighbor built a wall on my retaining wall. In 2011 I informed Standard Bank (SB) that my wall had cracks after bad weather conditions. An Engineer was sent to assess the wall. His ambiguous report was reluctantly sent to me after repeated requests. My premium did not change & no correspondence came from SB so I assumed my wall was still insured. An Assessor was sent on 25/11/12 to view the fallen wall. He said SB wouldn't pay this claim as the wall was not "structurally engineered". No tests were done to verify if the wall had sufficient reinforcing or if it fell because the foundation was not solid. After clearing the debris we saw that only half the wall had fallen (i.e. the top half). The wall has stood for 20 years. It had drainage; reinforcing & appeared to be structurally sound. SB agreed to insure my wall and now revoke my claim even after I raised initial concerns about the wall in 2011. I had to continuously call their call centre to confirm the status of my claim. SB sent out Professionals, carried out assessments but never gave me feedback. SB has cheated and deluded us into believing that we were insured.

Date:

Company: Standard Bank

Country: South Africa   City: National

Category: Business & Finance

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