Overinsurance and refusal to cancel insurance

To Whom It May Concern<br> <br> We have obtained other insurance through Dial Direct for R1 000 000. Which is sufficient coverage for our household with a municipal property value of R730 000. The current outstanding bond is approximately R50 000 and the household goods are sufficiently covered under the R1 000 000 coverage. Outsurance and FNB are now holding us ransom in the sense that they are refusing to cancel the insurance unless the property is insured for an amount of R1 674 604.61, which is a gross over calculation of the household insurance needs. No evidence has been given as to how they have gotten to this amount and as of now both entities are currently passing the buck. Outsurance stating that FNB will not let them cancel and FNB stating that they are not responsible for the matter.<br> <br> We have now been double paying insurance since May 2015 due to both parties not providing any assistance on the matter despite repeated correspondence from our side.