Customer sues Manulife and SCB: Submitting complaint to Ministry of Public Security
News - Posted date: 05:55, 05/05/2023
People go to Ho Chi Minh City Police to denounce Manulife insurance - Photo: MINH HOA
On the afternoon of May 4, at a regular press conference providing information on the socio-economic situation of Ho Chi Minh City, Lieutenant Colonel Le Manh Ha, Deputy Head of the Staff Department of Ho Chi Minh City Police, said that for complaints about the product "Tam An Dau Tu", a joint product between Manulife Insurance Company and Saigon Commercial Joint Stock Bank (SCB), Ho Chi Minh City Police will receive and classify the complaints according to regulations.
According to Mr. Ha, because the case related to SCB Bank is being handled by the Economic Police Department (C03) of the Ministry of Public Security, Ho Chi Minh City Police will coordinate to verify and transfer the case according to the provisions of law.
The handling agency will respond and inform the press after the investigation results are available.
Previously, on April 18 and 20, two groups of people went to the office of the Ho Chi Minh City Police Department to submit a total of 146 complaints, reflecting on the "transformation" of savings deposits at SCB Bank into Manulife life insurance.
In the complaint, many people said that when working at SCB Bank, they were advised to invest in the "Investment with Peace of Mind" package, with a commitment to high profits.
They later discovered that this was actually a Manulife life insurance contract, not a new form of investment savings.
On April 26, Manulife held a press conference to announce a plan to resolve customer complaints related to the life insurance product "Investment with Peace of Mind" distributed through SCB Bank.
The leader of Manulife Vietnam said that over the past time, the company has evaluated each customer complaint. In most cases, there was not enough evidence to prove the content of the customer's complaint.
In a few cases where the firm found evidence of misconduct during the consulting process, the firm took strong disciplinary action against the individuals involved, including reporting to the authorities.
Manulife confirmed that it will contact SCB customers participating in the "Investment Security" insurance product who have submitted complaints, or submitted them before April 30, 2023, to discuss and resolve the complaints.
However, the outcome of the complaint settlement will be determined based on Manulife's assessment, including factors such as: the completeness and legality of the insurance contract documents, the results of interviews and confrontations with relevant consultants and bank staff, the information provided by the customer in the complaint or during the discussion, and evidence or related factors that need to be considered.
The business's goal is to complete customer conversations and reach resolution by approximately June 30, 2023.
In early 2023, Tuoi Tre newspaper published a series of investigative articles "forcing" people to buy insurance, including a report on "Savings suddenly becoming... life insurance", many customers came to SCB Bank to deposit savings, then were "magically transformed" into Manulife life insurance.
At the regular press conference of the first quarter, Mr. Doan Thanh Tuan - Deputy Director of the Department of Insurance Management and Supervision (Ministry of Finance) - said that when inspecting four insurance companies, the department discovered certain violations.
After completing the inspection conclusion, the Ministry of Finance will publicly announce it.
Recently, Deputy Prime Minister Le Minh Khai requested clarification of the shortcomings in exclusive insurance agents at banks.
According to Tuoi Tre