Insurance merger

Press, 3 September 1986, Page 16

Insurance merger

M.L.C. Insurance policyholders have not been jeopardised by the merger with New Zealand Insurance, according to the general manager of N.Z.I. Life, Mr Roger Garrett, who says that all policy-holders have remained fully protected. His comments come in response to a letter to the Editor from Anne Edmundson. She said in July that she had been advised by N.Z.I. that no policy-holders of M.L.C. Insurance cover had been sent premium notices since last December. She was told that overdue notices would be sent out, including interest charges. “I am disappointed that the company has acted in this way without prior notice,” she wrote. “I was assured of the security of cover, but I am disappointed that

the trust and goodwill of longestablished business practice was ignored and a change in procedure followed without notice.” Mr Garrett comments: "As a result of difficulties in converting M.L.C. records to our computer system, there have been delays in sending premium notices to certain M.L.C. policyholders. We regret this and will be dispatching notices, with an explanation, in the very near future. Interest will not be requested. “No policy has been cancelled during this period and all policyholders have remained fully protected. “If your correspondent or any other client wishes a more detailed explanation, they should contact the regional office in Christchurch (Ph. 793-640).”