Falsified Information on Business Insurance Policy

We recently opened a business insurance policy with Santam in July 2024 facilitated by Agency: *** Marara Risk Solutions Pty Ltd . However, we have discovered serious discrepancies in our policy, which appear to be the result of misrepresentation or negligence on the part of our assigned insurance agent.

Policy/ID Number: ***6 Our company name: Link Sourcing Solutions pty ltd Key Issues: Incorrect Coverage Details:

We requested insurance for our showroom, which contains stock valued at R800,000 – R950,000. We also requested insurance for our warehouse, which holds stock worth approximately R5 million. We have now discovered in November 2024 that our warehouse was not insured at all, despite our clear request. Instead, the showroom has been insured for R5 million, which does not reflect the actual stock value. Misleading Information and Increased Premiums:

The agent initially informed us that installing a camera and alarm system would reduce our premium. We installed the required security systems and provided the necessary certification, yet the premium increased instead of decreasing. When we attempted to follow up via email, the agent was unresponsive and claimed to be too busy. Discovery of the Issue:

After five months of no clear response, we requested a quote from another insurance provider. It was only then that we discovered the warehouse was not insured, and the showroom was insured for an incorrect amount. Requested Action:

Given these discrepancies and the clear failure to provide accurate insurance coverage, we would like to:

We have Terminated our policy immediately due to misrepresentation. Request a full refund of the premiums paid, as we have been paying for incorrect coverage that does not reflect our agreement. We have written to Santam a couple of times but they have ignored our emails or any form of communication. We consider this a serious breach of trust and professionalism and expect your urgent attention.