Jul 24, 2021 Letters
I would like to bring to your attention the nonsense that is going on in this country. I took a loan a few years ago from Bank of Nova Scotia to construct my home. As a requirement, I had to get Fire Insurance of which I went to my insurance company and took out same.
Recently, I received a call from my insurance company to remind me of the due date of my policy, in that conversation I was told by the representative that if I do not pay the premium on time, Scotia Bank will automatically take out the insurance at another company.
I then contacted the bank and ask if this was so, I was advised by my loan officer that there’s a new system in place that once the bank pays the premium for the customer that will replace the coverage with another insurance company out of Trinidad.
I honestly see this as being unfair and a case where Guyanese rights are being taking away from them slowly. I don’t know this company, how can they tell me where to do my business? Isn’t this total nonsense? It seems like the government wants to see another CLICO fiasco. I will be sending a copy of this letter to the insurance regulator of Guyana.
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