Why do I attack Standard Bank

Exclude Construction Company from construction

The question that bothered us the most in the refusal to pay a claim was the fact that the insurance document excludes Standard Bank for any liability on any construction site. During the application for insurance the document application form required type of business, in this box we filled “Construction Company” in.

The bank assistant handling the application was not an insurance expert, and advised us that Standard Bank insurance will contact us to explain the insurance in detail; she also told us that Standard Bank will send us a policy document shortly. None of the above ever occurred, and we stayed under the impression that our premiums covered us as a construction company.

We had an incident on one of our sites, and only after we claimed they informed us that we are not covered for construction work. They also claimed that they did call us to explain the terms and conditions of the document. When I asked if all these calls are recorded they reply yes, and I asked them to allow me to listen to the recording. After a few days I received a personal “twitter” message telling me that I need a court order to listen to the recording.

In my view I have the right to investigate and therefore have the right to listen to the recording, after all if the recording exists where they explained to me that my construction company is not covered for construction, it will clear the case and I would have to accept the responsibility for the failure of the claim. I do not understand why I need a court order to listen to the conversation that allowed them to deduct premiums in conclusion of the contract. According to me it is my basic right to examine the alleged call.

At the moment I believe that this recording does not exist, I believe that they did not do their work correctly and now hide behind court orders.

The bank then referred me to the Ombudsman, which is clearly a tactic to delay their responsibilities to comply with my requests.

The time has come to warn other companies and people of the shady techniques of Standard Bank, and therefore I started a blog to expose it.

If Standard Bank sends me the alleged recording and it clear them from any wrong doing I will publically apologies for the media attack against them. But up to that point I will keep on alleging that they have committed insurance fraud, contract break and incompetent management. Their lack of service to resolve this issue is shocking.

Willie Beetge

First OPEN LETTER TO Mr Ben Kruger, CEO STANDARD BANK

RE: SHOCKING CUSTOMER SERVICE AND UNPROFESIONAL FINANCIAL ADVICE FROM STANDARD BANK INSURANCE DIVISION.

Dear Mr Kruger.

I have been a loyal customer of Standard bank for approximately 20 years, opening my first Standard bank account at Florida branch Gauteng. I have always believe that I could take sound financial advice from the bank, and therefore five years ago I opened three business accounts with standard bank Amanzimtoti, I used all facilities available to business and whenever I was in doubt contacted my standard bank business consultant.

I did the same a few months ago to apply for vehicle finance, (not the first business vehicle with Standard Bank); after the business consultant completed my application she showed me a business insurance deal available. I was immediately interested in the public liability cover, as it is of cardinal importance for a construction business to be covered. After looking at the liability cover I instructed the consultant to apply for the insurance on my behalf. I chose the cover that had sufficient liability cover for the company. We proceed filling the form in and stated under type of business “Construction”. The business consultant could not tell me much about the insurance as she is not an insurance specialist, but assured me that, I will receive a call and a policy document soon. She advised me to ask all my questions to them when they call me. She further told me that if the insurance is not to my satisfaction Standard Bank insurance will sort it out for me. I was satisfied with the service from the branch and understood that the consultant are not an insurance expert.

Unfortunately early this month we had a huge incident on one of our sites when, a retaining wall collapsed and damage our customers boundary walls. Due to the fact that I did not receive any correspondence or telephone calls from Standard Bank insurance yet, I visited my business consultant who like always assisted me immediately with a claim form.  A week later I was informed that my liability was not for construction work, so a Construction company was insured for everything excluding construction. I lodged a complaint and asked that they send a professional out to the site to at least look at the damage and advice to what fall within and what fall out of the parameters of the policy, Standard Bank refuse to send anyone to the site to assist. I lodged a complaint with Mr Mpo Maimane, He advised me that the insurance was within their rights to reject the claim and that if I have any problem with that I should contact the ombudsman.

Please understand I have no problem with the point of sale procedures, I have a huge problem with the exclusions that I see for the first time after I lodged a claim, I have a problem that Standard Bank insurance can allow a policy to be captured from a construction company with exclusions for construction without contacting me to explain it. I furthermore have a problem with the management conduct not answering any of our questions or any professional assistance when we ran into a problem. My wife is with First National Bank and all her insurance is through the bank, whenever she embarked on cover FNB insurance called her explaining the policy and exclusions, they also send a document via e mail and then post a hard copy of the documentation, they do not take any premiums before they had spoken to her. Standard Bank however took premiums immediately, with no telephonic conformation and or explanations. Mr Maimane gave me the date that my policy document was posted, but to date I have not received it.

I Apologies that I had to write an open letter but the bank refused to give an email address.

The real questions I would like to ask you Mr Kruger is...

Do Standard bank only value us as customers while we pay bank charges and fees? Do we only became  a burden when we ask for advice or if we lodge complaints or are we just too small to be worth the time and service, do the bank turn a blind eye if they destroy small business, when employees must be laid down due to the so called miss-understandings between the bank and the customer. Is our contribution to help built the South African economy not worth the time of mighty Banks and corporations? Where was the Bank when we asked for assistance for financial advice for service? I hope Mr Kruger that this is not the case, that the weak service was only due to a unqualified or ignorant bank complaint clerk and Mr Kruger that this is not the view of management, that it is not the blue-print that the bank use to ignore small business. Mr Kruger I will understand if you rule to safe the Bank insurance, I will understand if you decide that you Mr Kruger do not have the time to read this letter, I will understand if you decide that we are too small and that we do not deserve the banks time never the less you esteem time. I just hope that other businesses will not have to walk the same way, that you Mr Kruger will ensure that not more small companies and thousands of workers will lose their jobs due to exclusions and the lack of service from some employees that sit in their air conditioned offices while we the small business try to build a better South Africa for all. Mr Kruger you will probably think who gave this man the right to write to me, I must tell you Mr Kruger it was not one of your employees, Mr Kruger they all kept their word to keep you in the dark, to tell you about their good service that they provide for customers. So Mr Kruger please do not handle them like they handled us, please help them

I thank you Mr Kruger for you precious time reading this plea for fairness and equality

Yours Faithfully,

previously small business owner now Micro Business owner. (Thanks to .... Standard Bank)

Willie Beetge