by amit » Thu Feb 12, 2009 07:19 pm
how much fine will be levied to any person who has made fraudulent activity,
& presented fake receipts to the clients for insurance premiums and later on clients have came to know that all the receipts which were supplied were fake.
Now, how much punishment can be expected to be given to that person by the court? :?: :?:
& presented fake receipts to the clients for insurance premiums and later on clients have came to know that all the receipts which were supplied were fake.
Now, how much punishment can be expected to be given to that person by the court? :?: :?:
Posted: Fri Feb 13, 2009 06:17 am Post Subject:
First of all, I hope this isn't about something you personally have done. :shock:
Secondly, it completely depends on the location and the severity of the offense(s). You would need to give us the location of the alleged violations and some specifics (without getting tooooo specific) about what happened. :cry:
Good luck.
InsTeacher 8)
Posted: Fri Feb 13, 2009 07:28 am Post Subject:
Yup, the punishment would depend upon the state where this incident has taken place. Moreover, the agent (I presume its the agent who has committed the fraud) would get his business license canceled along with facing jail term. Things can go really scary for the person in question.
Posted: Fri Feb 13, 2009 11:39 am Post Subject:
Hi..I've come across a piece of news from North Dakota that reveals how an insurance agent who allegedly stole $7 million from his clients have been punished with eight years imprisonment. They say that he has 30 victims and that he was doing business though he was not registered.
Crossbreed
Posted: Fri Feb 13, 2009 02:58 pm Post Subject:
I can not see how the guy would have gotten away with it. One of those thirty victims had to have some type of accident with in the time they done business with this guy. What happened when the claims were not paid? If they were paid and he was unlicensed then they still got their insurance and in fact only dfrauded by not having the license to sell insurance.
Posted: Sat Mar 21, 2009 01:27 pm Post Subject:
well, i think it is very unlikely that an insurance agent can fool his client..these days the customers and clients are very clever and they know how to protect themselves from these kind of anti-social people..
But in the rare event that this happens and client comes to know this, he is very much justified to go to court and appeal against him..
And coming to strictness of punishment, it depend on the country where the fraud has taken place and the laws of the country
Posted: Sat Mar 21, 2009 03:40 pm Post Subject:
tusharagg87
i accept that clients have become very clever but i need to remind you that there are some literate, clever,educated guys who knows so much about the world but still they are very reluctant to come foreward and think that it is shear waste of time to lead the front and they think that it is better to sort out the issue out of the court.
even though they know the laws it is really not possible for them to lead a long battle in the court due to their shear unwillingness to lead the battle.
i won't think it will really resolve the issue.
Posted: Sun Mar 22, 2009 06:44 am Post Subject:
i agree with you Amit...these are those guys who didn't want the world to know that such intelligent, literate guys can also be made fool...
Due to their this problem or mentality, whatever you say, many frauds that could have been prevented take place and more loss to the other customers..
Posted: Sun Mar 22, 2009 10:56 am Post Subject:
Due to their this problem or mentality, whatever you say, many frauds that could have been prevented
do you think that the NGO (non govermental organisations ) should come foreward and then they should encourage the people for these issues.there are so many NGO's (i am talking about the good one) currently working with the sole motto of solving or preventing these types of frauds.so those who have some contribution to make they can surely join these NGO's whichever is nearby their residence. :wink:
Posted: Mon Mar 23, 2009 02:25 pm Post Subject:
it is a good idea but again we come at a dead end...they need to know that fraud has taken place with some one in their locality..they need to know the full story..than only they can take any action and can hold of the culprit
Posted: Fri Mar 27, 2009 01:55 pm Post Subject:
I think each state has it’s own laws for such frauds.. It’s quiet possible that the insurance agent can fool his client if less educated or less unaware about the insurance policy procedures.
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