Whereas nearly all of the insurance coverage corporations, each authorities and personal, have launched the choice of shopping for two-wheeler and personal automotive insurance coverage insurance policies by making use of both on their web site or by way of the net market like Coverage Bazaar, the accused misused the ability by producing insurance policies with faux credentials and offered them as insurance policies of economic automobiles. “They’d enter the industrial automobile’s registration quantity, however time period it as two-wheeler within the column for ‘sort of the automobile’,” stated an official.
The gang wooed the victims by charging about Rs 16,000 because the annual premium whereas the precise premium for industrial automobiles can be between Rs 20,000 and Rs 40,000 relying upon the character of the automobiles. “Whereas they might have paid about Rs 1,000 for the two-wheeler, the gang made about Rs 15,000 for every coverage,” stated an official.
For the reason that automobile insurances normally lapse after a yr, the accused had a free run for the previous couple of years.
Just lately, United India Insurance coverage agency got here throughout faux insurance policies below the corporate title and approached the town police commissioner Mahesh Kumar Aggarwal. A case was registered by the cyber crime wing of the Central Crime Department (CCB) and the accused had been traced to Tirunvelveli and secured.
The principle accused was recognized as Mariappan (40), who had an workplace in Tirunelveli to get faux insurance coverage insurance policies. A BCom graduate, he labored with insurance coverage corporations until 2016 earlier than beginning his personal agency.
The opposite accused M Sumathi (29) was his worker who solid the insurance coverage insurance policies on the pc, and Anand Senthurapandi (40), who labored as an agent for Mariappan.
Mariappan obtained his clients by way of Senthil Kumar Sengamalam (47), a registered insurance coverage agent, and his subordinates Ansar Ali (43) and Jain Alavudin (40) of Pudukottai.
Although the gang claims to have cheated about 300 folks within the 4 few years, police suspect that the quantity might be extra and that names of different insurance coverage corporations might have additionally been misused.
Gold jewels weighing about 1.06 kg, a number of property paperwork, Rs 9.5 lakh in money, a automotive, telephones and laptops.
Commissioner Mahesh Kumar Aggarwal, chatting with the media, stated that such fraudulent actions would stop accident victims from their rightful compensation because the insurance coverage coverage itself is faux. “Individuals who receive insurance policies by way of brokers ought to confirm whether or not their insurance policies are authentic by way of the hyperlink supplied by the insurance coverage corporations and the corporations too have been requested to handle the loopholes to forestall such crimes,” he added.
One other official advised DT Subsequent stated that the insurance coverage corporations ought to hyperlink their insurance policies with the federal government’s parivahan database to detect when the insurance policies are generated with faux credentials.
Whereas the arrested accused have been remanded in judicial custody, a hunt has been launched for a number of extra suspects together with the mastermind behind the racket.or Forging Insurance coverage Insurance policies For Industrial Automobiles.