Insurance alert! Planning to buy vehicle insurance? Beware of this latest fraud!
If you are planning to buy an insurance policy for your vehicle, then this report will be of immense value to you. The Mumbai crime branch has captured three persons for allegedly doing four wheeler and three-wheeler motor insurance policies in the name of two wheelers
If you are planning to buy an insurance policy for your vehicle, then this report will be of immense value to you. The Mumbai crime branch has captured three persons for allegedly doing four wheeler and three-wheeler motor insurance policies in the name of two wheelers.
The accused were so cunning that they use to
In case of third party insurance, the insurance companies do not verify the details of vehicles. The accused took advantage of this.
The fraud was discovered when insurance company Tata AIG verified the policy and found that the policy was made fraudulently. All the policies contained same mobile numbers and the insurance policies were made for four and three wheelers while the details were taken from two wheelers.
Finding this, the company was suspicious of the activity and lodged a complaint with the police.
The police has said that same number was put in all the policies so that any call related to the different polices could be addressed through one number and it would be easy to manage the situation.
The insurance company has informed about these improprieties to the Mumbai police. Taking cognizance of the complaint, the police nabbed the accused on the basis of email ids and phone numbers.
The police has found policies worth over Rs 1.5 cr. The police has said that many more arrests could be made going forward.
- If you are planning to do an insurance of your vehicle then be alert
- Polices for four and three wheelers have ben done by using details of two wheelers
- Mumbai crime branch has arrested three accused in this case.
- The accused use to make third party insurance of the customers
- All policies contained same mobile number
- All the policies were made fraudulently.
- The police has arrested the accused on the basis of email ids and phone numbers.
- Till now policies worth Rs 1.5 cr have been found in the investigation.
- More people could be apprehended in connection with this.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
IRCTC Dividend 2024: Railway PSU announces 200% interim dividend - Check record date and other details
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
05:37 PM IST