AIICO Insurance Refutes ‘Misleading’ Allegations of Breach of Contract

The Management of American International Insurance Company Limited popularly called AIICO Insurance Plc. has refuted a recent report in the media concerning a suit filed by a Lagos-based legal practitioner, accusing the company of ‘breach of contract’.

A statement issued by the firm’s management urged the public to ignore  the publication, stressing that the company remains steadfast in upholding transparency, integrity, and the principles of justice.

In the said report, the lawyer had alleged that AIICO refused to pay his insurance policy entitlement, and thus breached the insurance contract between them.

The lawyer also alleged that the Insurance company refused to respond to his letter. 

But, AIICO in its statement said: “Our attention has been drawn to a widely circulating story on some online media with the headline “Lagos lawyer drags AIICO Insurance company to court over breach of contract,” which we find to be sensational and misleading.

“It is important to clarify that the headline implies that AIICO Insurance breached the contract with its client, whereas the reality is that the client failed to fulfil his contractual obligations to the letter which failure actually undermines the purport of this Insurance Contract.

“As a responsible corporate entity, we choose not to engage in any commentary regarding the ongoing legal case, allowing the legal proceedings to follow its due course. We firmly believe in the judicial system and its ability to determine the truth and dispense of the matter accordingly. 

“Consequently, we refrain from making any public statements until the conclusion of the current judicial process, whereupon we will address the matter appropriately.

 “We remain steadfast in upholding our commitment to transparency, integrity, and the principles of justice.”