Claim not paid in 8 Months!

On 30 March 2017, a claim was submitted to old mutual for theft and malicious damage to property. I was advised that I was not covered however I had been paying insurance to old mutual for 2 years. In February 2017 an updated inventory list was sent to my then Broker, Immanuel Chetty, who apparently did not update the policy or advise us that we needed to take an extension policy because the buildings were wooden cabins.

It is now 8 months since submission of this claim and I have received any information or payment for loss. The entire lodge was destroyed so we have been non operation for 8 months. I was advised that that there is no Business Interruption cover, therefore there is no cover for the loss of revenue. Business Interruption also only provides cover for your fire perils being storm, wind, water hail, snow etc. and not theft. Old mutual and mutual and federal deny any responsibility for loss of income, despite not paying the claim after 8 months!

on 28 April 2017, I was requested not to report this matter to the ombudsman as the two organisations Mutual and Federal and old mutual, were going to resolve this matter internally.

• On the 8th May 2017 I received confirmation acknowledging the error was on their side. I have made numerous follow ups and have been told it is with the Old mutual advisory board.

• I was then advised I must follow up the PFA whom I’ve corresponded with and received no feedback to date.

Further to this I advised banking details to be change and received acknowledgment of bank details, only for the debit order to be sent to old banking details resulting in the policy being cancelled!

I am just absolutely disgusted by the service or lack thereof that I have received from both Old mutual and mutual and federal, with whom I had several policies and since, cancelled all. I have absolutely NO trust this in these organisations as a financial service provider!