I want to take legal action against insurance agent

Hemant rai

asked a question • 9 yrs ago

My father took LIC in 2004 repayable in every 4 years. He gave timely payment to insurance agent. He received 1st premium amt of 50000 in 2008. Next amt was receivable in 2012 then in 2016. In 2013 my father asked my agent that he didn't received premium amt to this agent assured that he will received amt as their might be some problem with bank account. In Dec 2017 I feel suspicious about this after inquiries from LIC office it came to my knowledge that the concerned agent is no more agent since 2012 but he never revealed this truth to my father and and continuously received insurance amount from my father. Till 2013 he paid insurance but after that he never paid resulting in closing of LIC. I asked agent to renew LIC policy but some way or other way he is escaping and being a relative of ours my father never doubt his integrity. From Dec 2017 to till now whenever my father called him he assure my father that he will make everything good but of no avail. Therefore, I want to take legal action against this fraud. Kindly, advise me what should I do.

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1 Answer

Advocate ANOOSHA S. PANWAR
Competition Law
9 yrs ago
Hello Hemant ,

The Indian Insurance Law has not specifically dealt with insurance fraud. Neither the IPC/ Indian Contract Act has an express provision for the same. However, the Insurance Regulatory & Development Authority of India has classified three types of insurance related frauds. Your case fits in the ambit of Intermediary Fraud caused by an Insurance agent.
As regards legal action against such agent is concerned , you may first serve him a legal notice and in case he fails to reply to the same , you may take a criminal action against him under Indian Penal Code under section 205 which is false personation and section 420 which is cheating & dishonestly inducing for delivery of property and section 405 for criminal breach of trust.

You may also attract provisions of Indian Contract Act for misrepresentation and fraud committed by him.

The suit shall be instituted at such Court where the cause of action arose or where the agent resides/ carries on his business.

Hope this answer helps you.

Thanks,
Anoosha S. Panwar
***** & **********
********* ********************
******** / **********

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