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Sunday, January 24, 2021

Hyderabad: 11 arrested for selling fake vehicle insurance

The accused allegedly created fake insurance certificates in the name of companies such as Reliance general insurance, Kotak general insurance, HDFC Ergo general insurance, Chola MS general insurance and Shreeram general insurance among others.

By: Express Web Desk | Hyderabad | January 6, 2021 9:30:30 am
The police also found out that the accused had ties with RTO agents who referred vehicle owners to them for insurance in return for a commission.

The Cyberabad police Tuesday arrested 11 persons for allegedly issuing fake insurance policies to motorists. The police seized 1,125 fake insurance certificates from their possession.

Police commissioner VC Sajjanar told media that the accused could execute the fraud as they were aware that vehicle insurance details are not available on the RTA’s information system. The arrested persons include owners of mobile pollution testing vehicles and an insurance agent.

The accused allegedly created fake insurance certificates in the name of companies such as Reliance general insurance, Kotak general insurance, HDFC Ergo general insurance, IFFCO-TOKIP general insurance, Chola MS general insurance, Future general insurance, Shreeram general insurance, and Royal Sundaram general insurance. The probe was initiated by police based on a complaint from the area manager of Reliance general insurance.

Explaining the modus operandi, the Commissioner said that the accused used to station their mobile pollution testing vehicles on highways and near road transport offices (RTOs). Whenever a vehicle came for pollution check, they would enquire about the vehicle’s insurance and convince them to buy one from them if they didn’t have any. They would cheat customers by instantly issuing a fake insurance policy.

“Insurance policy bonds will be issued after a minimum period of 12 hours. Anyone issuing it instantly is handing you a fake one. These policies will be delivered by companies only by post. If someone deliberately carries a fake vehicle insurance policy, he/she is also liable to be booked for cheating, ” he said.

The police also found out that the accused had ties with RTO agents who referred vehicle owners to them for insurance in return for a commission. Vehicle insurance is a must for vehicle registration, permits, and transfer of ownership etc. The accused sold instant policies for anything between Rs 5,000 and Rs 10,000.

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