backwash/not resolved: ABSA ARROGANCE and Working against their existing clients

Below email is a review and complaint I posted here 2 weeks ago. I received a reply (that looks like it's automated) that this would be dealt with and will be resolved. It has not resolved. Absa have not shifted from their position of forcing us to cede over to them our new insurance policy with PPS - Professional Provident Society of South Africa, after canceling their homeowners insurance. We owe them nothing on the bond, and we had taken this insurance with them a few years long after the house had been purchased using the bond. No reasons have been provided why we should cede all our rights (on the PPS policy) over to them. They are unhappy that, after receiving a very bad service from ABSA on our insurance claim, we decided to cancel their policy and replace it with PPS. I have been shifted from many employees and various departments and all of them are not in sync or are not communicating with each other - obviously you end up being left in the lurch. Bottom line: the property is ours, we have repaid them their home loan and all we want is to cancel an insurance product with them. Their action is that of a BULLY because NEDBANK did not give us any hassles and happily issued a confirmation to cancel our insurance (and we still owe them on the bond). Why is ABSA operating outside the insurance industry standards?

---------- Forwarded message --------- From: Ernest Cele <***> Date: Tue, Mar 5, 2024 at 10:21 AM Subject: Hello Peter _ COPY : ABSA Insurance - ARROGANCE and Working against their existing clients To: <***>, <***> Cc: Nomkhosi Cele <***>

Our house was financed by ABSA and they then also insisted we take their homeowners insurance. The home loan is now basically paid up and I gave notice to cancel the building insurance. After so many follow up calls and emails, they finally sent me a letter declining to cancel my building insurance - even though we provided them with a replacement insurance policy from PPS - The Professional Provident Society (a professional company with a very high reputation - whose members are all professionals). The email came from a Reneilwe Moreroa (***), following a fight we put up with them on their silence on the matter yeasterday.One of the reasons for Absa's decline is that PPS policy insures the property for R1 800 000 and the sum insured should be R1 809 000. I honestly believe this is ridiculous and ABSA is behaving like a bully and oppressing home owners and this must be stopped. Why make it so difficult for clients to cancel insurance with you especially when there's NO DEBT and why infringe on their constitutional rights with impunity? I also believe Absa is NOT upholding the Insurance Industry standards, reason being that whilst cancelling Absa insurance, at the same I canceled another major bank's building insurance on my other property (also moved insurance cover to PPS) and I did not encounter any issues with that other major bank. They happily issued me with a confirmation letter on cancellation, please note I still owe this major bank on the property mortgage bond. I hope this helps them clean up their mess and I will copy this letter to their senior executives/ ***, executive in charge, etc.

Regards

Ernest.