Unjustified Premium Increases and Unauthorized Policy Changes

To Whom It May Concern,

I am writing to formally raise my ongoing concerns regarding my insurance policy with Virseker. Over the past few years, I have experienced a series of unjustified premium increases, unauthorized changes to my policy, and a lack of adequate response from your team—issues which have now culminated in a further increase in my monthly premium on 1 July 2025 to R750.34. This is significantly above the agreed-upon premium of R601.05, which included cover for my wife's wedding ring.

1. Escalating Premium Increases I originally joined Virseker in July 2020 at a premium of R160/month. Since then, my premiums have increased as follows:

May 2023: from R388 to R485

May 2024: from R485 to R605

July 2024: after a minor move to a nearby security complex, increased again to R701 but after a formal complaint was agreed to stay at R601 .05

July 2025: increased again to R750.34, despite the previously agreed rate of R601.05

These recurring increases—often exceeding 20% annually—are unjustifiable, especially given that no claims have been paid out to me. They far exceed normal inflation and were implemented without adequate explanation or consent.

2. Unauthorized Removal of Specified Item (Wedding Ring) At the time of policy initiation, my wife’s wedding ring was included as a specified item. It was later removed without my knowledge or authorization. Upon inquiry, I was told there was no record of its removal, and that reinstating the item would cost an additional R160/month—despite the fact that the agreed initial premium already included this cover. This lack of accountability is unacceptable.

3. Inadequate Communication and Follow-Up I requested a breakdown to justify my premium increases but am yet to receive a response. This lack of follow-through on an urgent and legitimate concern reflects poorly on Virseker’s commitment to customer service.

4. Previous Attempts to Resolve In a similar situation two years ago, I cancelled my policy due to an excessive premium increase. After being contacted by Virseker and promised a matched offer, I decided to stay. However, the continued need to renegotiate my premium annually is neither sustainable nor acceptable.

I respectfully request the following actions be taken immediately:

-Keep the wedding ring under specified items at no additional cost, as originally agreed.

-Reinstate SASRIA and all other cover included in my original policy.

-Provide a detailed, written explanation for the repeated premium increases.

-Respond to this complaint and resolve all outstanding issues within a reasonable timeframe.

-Refund the balance of the premium paid thus far.

Should these matters remain unresolved, I will be forced to escalate this complaint to the appropriate consumer protection authorities and seek coverage elsewhere.

I look forward to your urgent and satisfactory response.

Sincerely,