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onke.mdebuka onke.mdebuka

1 reviews | Active since Oct 2016

15 Jan 2020, 10:46

Bidvest Shortfall Insurance Claim Not Paid Out In Full - Case number IAC - M2411/19

The Ombudsman for Short Term Insurance has failed to help me after I gave them all my reasons that I should be paid out by Bidvest for my shortfall. When taking Bidvest shortfall cover I was at a Bidvest Mc Carthy dealership and was advised of this product by the finance lady who was helping to close the deal for my car. I take it that Bidvest take their people for training so they can advise their clients properly.

This lady at the dealership who was helping me with my deal and advised me after submitting the documents for my comprehensive cover I must that my shortfall cover with Bidvest and at claim stage I would have no problem with my shortfall and everything will be paid in full. Now Bidvest don't to pay for my shortfall. This has really caused financial strain on me R39 000 is no childs pay to be paid cash from my pocket to settle my remaining debt. I have given the Ombudsman 9 months to complete their investigation and still I'm told I'm not going to be paid out.

I'm confused to what the meaning of shortfall means if all of the remaining debt is not going to be paid in full and was advised by someone from Bidvest that everything will be paid in full (the lady from finance at the Bidvest Mc Carthy dealership). I feel like I'm being taken for a ride by Bidvest as an organisation. Where is the integrity of Bidvest towards their clients and where is the integrity from the Ombudsman if they side with these insurance companies that continue robbing people?

The case numbers used at the Ombudsman are these two: IAC - M2411/19 LTC - M700/19

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Replies (1)
Ombudsman for Short Term Insurance
Ombudsman for Short Term Insurance's reply04 Feb 2020, 14:37
Official
Dear Onke BozzOnke Mdebuka

The merits of your dispute against the insurer who covered your credit shortfall were carefully considered. Our office cannot discuss the specific merits of your case on this platform. This information remains confidential as between the insured, insurer and the Ombudsman in accordance with OSTI’s Terms of Reference - agreed to by both parties.  

We can however confirm that our office referred you to the office of the FAIS Ombudsman for further assistance.  This was due to the fact that the basis of your complaint was an advice issue by an insurance agent – not the insurer/underwriter. This places your complaint outside the jurisdiction of our office. 

The shortfall calculation app**** by the insurer was in line with all the relevant terms and conditions of the policy, and as such, it was upheld. 

Yours faithfully, 

Ayanda Mazwi 
Senior Assistant Ombudsman.