Unscrupulous ‘Uncle’ JD
After exposing JD Group for unlawful disability and retrenchment insurance sales to pensioners, the National Credit Regulator (NCR) has requested that the National Consumer Tribunal (NCT) fine the unscrupulous multinational.
The retail conglomerate comprises Joshua Doore, Russells, Morkels, HifiCorp, Bradlows, Barnetts, Electric Express and Pride ‘n Price. In addition, the regulator has called for the tribunal to preclude JD Group from the insurance industry altogether.
Preying on the Poor, Old and Disabled
Owing to investigations, NCR uncovered that JD Group retailers have been illegally selling occupational disability and retrenchment insurance to consumers who don’t have jobs.
Victims include pensioners and others living off of state grants, such as the elderly, disabled, and those who depend on child-support and foster-care grants for survival. Additionally, The NCR ascertained that the retailers were charging consumers an ancillary club fee.
The Club of Unreasonable Premiums
Accordingly, the NCR publicly announced that selling retrenchment and disability insurance to pensioners and those subsisting off of social grants imposes unreasonable costs on these unemployed consumers, as they subsequently don’t receive benefits.
Furthermore, the NCR determined that JD Group retailers had even sold disability cover to consumers, who were already receiving disability grants, due to being certified as permanently disabled.
NCR Sweeps the Industry
Thus, the NCR has implored the NCT to order JD Group to refund those consumers who have been paying club fees, on top of retrenchment and disability premiums, from 2007 to present. The regulator has also insisted that JD Group be audited.
To conclude, the regulator has avowed it will persist with investigations of the credit industry at large, in order to protect vulnerable consumers, like pensioners and the disabled.