for Monday /March 18 edition)
for Monday /March 18 edition)
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ANPAk..r..
Letter-Mitsui-Leasing
Beware of Mitsui Leasing and ACA
JP/5/LETTER
Beware of Mitsui
Leasing and ACA
The recent floods jolted me into a painful awareness that PT
Mitsui Leasing Capital Indonesia, through which I bought a Toyota
Corolla sedan in 2000, failed to inform me adequately about the
insurance cover for the car the company had purchased with PT
Asuransi Central Asia (ACA).
Upon digging into the bundle of documents on the credit and
car purchase agreements to look for the insurance policy and
contract, I found only a one-page document bearing the ACA
letterhead containing a very brief summary about the insurance
policy.
The document only explains that Mitsui has covered the car
with a three-year insurance contract of a compound method
(gabungan), with three additional clauses, Nos. 32, 33 and 37. In
another document containing the breakdown of the consumer loan,
Mitsui mentions only that the type of the car insurance is all-
risk. But it does not cite the amount of the premium for the
three-year coverage, nor does it inform me of my rights under the
insurance coverage, or what the term "all risks" means.
Upon inquiring at Mitsui, one of my office staff members was
told that the original insurance policy and contract were kept by
Mitsui. A copy of what Mitsui claimed to be the insurance
contract was later faxed to my office. But what I got was only a
copy of what is called the Indonesian Standard Automobile Policy,
not the specific contract with ACA.
The copy of the contract does not explain the difference
between what is defined as a standard insurance policy and the
insurance contract of a compound method with additional clauses
Nos. 32, 33 and 37 Mitsui had signed for my car.
Is this the way Mitsui and ACA treat their customers?. After
all, the cost of the insurance was additional to the loan that
had to be repaid. A company professing good corporate governance
should have informed me of all my rights even without my having
to make a specific request. Hence, beware of dealing with Mitsui
Leasing and ACA, they might exploit your ignorance.
VINCENT LINGGA
Jakarta