PROFESSIONAL Insurance Corporation Zambia has sued North Western Energy Corporation Limited in the Lusaka High Court seeking payment of US$29,263 in insurance premiums owed.
In its statement of claim, Professional Insurance submitted that by a first contract of insurance entered into between the two parties for the period June 3, 2015 to June 2, 2016, it issued a machinery breakdown policy in favour of the defendant with the total amount of premiums due being US$20,434,22.
The insurance company stated that in another contract entered into during the same period, it issued a Fire and Allied Perils policy to North Western Energy Corporation premiums amounting to US$18,583.77.
On October 21, 2015, North Western Energy made part payment of US$7,803.60, leaving an amount of US$29,263.49, which was due.
The insurance company stated that as a result, it had suffered loss and damage and is claiming payment of the said amount with interest at the current bank lending rate, as well as any other relief that the court might deem fit./SM/JC