Escapist Ways of Insurance Firms

Here is another instance to show how insurance companies thrive by protecting themselves, not their customers.

A recent report in The Straits Times points out that some firms have turned down claims arising from haze-related travel disruptions.

Amusingly, the General Insurance Association of Singapore has washed its hands off the issue, stating that it did not comment on an insurer’s product features, exclusions and special conditions.

Consumers were advised to seek guidance from insurers’ websites on inclusions and exclusions. The issue is about whether insurers should be allowed the luxury of choosing unreasonable exclusions.

In a couple of my recent posts, I had highlighted how insurance companies in the country only served themselves selling policies that do not benefit the people much.

They need to be challenged as policies cannot be excessively tilted towards the issuing party.

G Joslin Vethakumar

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Filed under General, Insurance Firms in Singapore

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