Prudential policy holders hit by excess deductions

Singapore

A NUMBER of policy holders of Prudential Assurance Company Singapore experienced a GIRO deduction in excess of their insurance premiums or a failed GIRO deduction on Thursday.

Prudential said in a statement late Thursday the erroneous deductions arose from a "technical glitch".

It added that it is working with its banking partner to credit the relevant amount deducted back to its customers' accounts within the next 24 hours. "Any interest lost will be refunded and any erroneous charges will be reversed as soon…