Investigation on SAAR Insurance company indicates that the company is a bogus and lawless institution carrying out clandestine operations at the expense of poor public workers in Liberia.
The documents in possession of Afric Daily Newspaper show that the company has violated to the highest degree their self made policy covering the Endowment Insurance with about 20,000 public workers, defrauding them from their benefits.
After entering into an agreement with public servants including health workers, education , Internal Affairs among others for fifteen years Endowment Insurance policy and promised to pay 25% after every five years, the company has deliberately refused to settle their clients’ benefits.
In more revelation, the officer In Charge (OIC) of the Owen Groove clinic in Grand Bassa County, Nurse Louise T. Gausi who joined the company along with some of her colleagues in October 2018 and anticipated payback in October 2023 are victims of SAAR financial malpractice.
The company entered into an agreement with clients to pay in Liberian Dollars but SAAR is receiving a portion of their clients insurance fees in US Dollars which is a total violation per their agreement, Lofa County borders patrol commander of the Liberia Immigration Service only identified as Kollie confirmed this.
Kollie has paid for six years seven months but faces SAAR financial malpractice wrath as he is yet to receive his first five years payback.
In their policy agreement, SAAR received LD$ 2010.00 two thousand ten Liberia dollars each month from about 20,000 subscribers in the public sector and agreed to pay back 25% of the total sum after every five years in their fifteen years Endowment Insurance agreement.
When questioned about these discrepancies, a SAAR staff member, only identified as Mr. Dicks, admitted to exploiting the policy but attempted to deflect blame onto the 2019 harmonization policy. However, many subscribers, who include low-ranking government officials, refute any correlation between their situation and the harmonization policy.
The actions of SAAR Insurance have sparked outrage among its clients, who are now considering legal recourse to reclaim their rightful benefits. The prospect of potential legal action has heightened tensions, with clients expressing their willingness to resort to endless protests to demand justice.
As the victims of SAAR Insurance’s fraudulent practices continue to suffer, it is imperative for regulatory authorities to intervene swiftly and decisively. The exploitation of public workers by unscrupulous entities cannot be tolerated, and those responsible must be held accountable for their actions. Only through robust oversight and enforcement of regulations can such abuses be prevented in the future, safeguarding the welfare and financial security of all citizens.
Comments are closed.