General insurance How to report fake insurance company

Augusta

Augusta

VIP Contributor
The best way to protect yourself and others from insurance scam is to report scamming insurance companies. Even if you haven’t been scammed but you know that an insurance company isn’t for real then they need to be reported to prevent them doing more harm to unsuspecting people. You need to look out for these impersonating companies like those without license, companies that need less time to register, insurance that comes with less cost or promise to give better pricing when you sign up with them

Sometimes the red flags are always there to show that a company isn’t genuine, you might need to follow your intuition. When you are sure they are fake, get all information you can get about them, then report them to your state’s insurance commissioner and attached all your document collected to back-up your report.

What’s your view?
 
Mataracy

Mataracy

VIP Contributor
I belive that since things is not going that well with many company since there is a problem of this issue of covid-19 and so many have diverted to what can fetch them money .
Do therefore there are many insurance out there that are scam so one need to be very careful. Its better to report any scam insurance company so that many people may not fall victims of them.
 
sincerem

sincerem

VIP Contributor
What you just said is right, when we notice a scamming insurance company, we shouldn't hesitate to report it to the govt in order for immediate actions to be taken. It's kinda frustrating to come a long way only for insurance company to scam me off my hard earned money.
 
OP
OP
Augusta

Augusta

VIP Contributor
I belive that since things is not going that well with many company since there is a problem of this issue of covid-19 and so many have diverted to what can fetch them money .
Do therefore there are many insurance out there that are scam so one need to be very careful. Its better to report any scam insurance company so that many people may not fall victims of them.
But I used to believe that instead of one to go scamming or doing illegal business for whatever reason, going the route of a legal business is still the best. Because when caught you can even spend more to get self off the hook. They just need to he reported to deter others from.foimg same
 
OP
OP
Augusta

Augusta

VIP Contributor
What you just said is right, when we notice a scamming insurance company, we shouldn't hesitate to report it to the govt in order for immediate actions to be taken. It's kinda frustrating to come a long way only for insurance company to scam me off my hard earned money.
That's the gospel, they all need to be reported when once we noticed that they are scammers no need trying to mind our business. They need to be reported to stop eating people hard earned money. The society needs to be rid of lazy people that just want to live off others
 
sincerem

sincerem

VIP Contributor
That's the gospel, they all need to be reported when once we noticed that they are scammers no need trying to mind our business. They need to be reported to stop eating people hard earned money. The society needs to be rid of lazy people that just want to live off others
Yes dude when you see such you shouldn't hesitate to track back to the government. Their are some hotlines which you can contact the EFCC for that here in our country to help you investigate the case. Seeing a scamming insurance company is devastating, because it's simply a way of subduing others into modern slavery and returning back nothing to them after long period of time of investment.
 
OP
OP
Augusta

Augusta

VIP Contributor
Yes dude when you see such you shouldn't hesitate to track back to the government. Their are some hotlines which you can contact the EFCC for that here in our country to help you investigate the case. Seeing a scamming insurance company is devastating, because it's simply a way of subduing others into modern slavery and returning back nothing to them after long period of time of investment.
You used the right words modern slavery and that's what it will be for having an insurance policy with companies that are not genuine, they will just swallow your money for nothing. Any such companies that are detected should be reported to appropriate quarters. This will help stop their activities on time
 
Good luck

Good luck

Verified member
Most of these insurance company have organization and union,so if you know of any insurance company that is fake or operating without any genuine or reliable license,you can easily report such company to the Union so as to take a proper charges against such insurance company.You can also report to law enforcement officer to charge such company to court to face the law.
 
Mika

Mika

VIP Contributor
In my country, there is an agency that regulates insurance companies. This agency is not only responsible for granting approval for insurance companies but also monitors the financial activities of the insurance companies. One of the easiest ways to find whether the insurance company is genuine or not is by checking it with the agency that monitors insurance companies. I don't know how it goes in other countries.
 
sincerem

sincerem

VIP Contributor
You used the right words modern slavery and that's what it will be for having an insurance policy with companies that are not genuine, they will just swallow your money for nothing. Any such companies that are detected should be reported to appropriate quarters. This will help stop their activities on time
Sure, it will help combat such slavery around insurance companies that are dubious in nature. I wouldn't hesitate to report them to government when I have the chance to do that, because I hate scam, when someone work so hard to earn money put it up via an insurance company and at the end nothing is gained, that's very much pathetic. Such owner should be imprisoned life into jail, because such is ridiculous, can even lead to shocker that makes an insured suffer cardiac arrest that leads to unexpected death, due to loss of accumulated funds that lasted for years without reward.
 
Augusta

Augusta

VIP Contributor
  • Augusta

    Augusta

Well, thats humans for you whatever they know will help them make money even to the detrriment of the next person they do not mind provided they have gain from it. but really it can be really pathetic that people would just go into a thing to dupe others. This is why they need to be reported as soon as possible.
 
btaliat

btaliat

VIP Contributor
Though prevention is better than cure. That is we need to protect ourselves from being scammed but if it eventually happens, there is nothing we need to do than to report the incident to the appropriate quarters. We can quickly inform the police force to stop this activites before other also fall victims of the same incident.
 
Augusta

Augusta

VIP Contributor
  • Augusta

    Augusta

Yeah that is it, if we realize that some insurance companies are fake and we turn blind eyes then their ministry will continue to grow and they will continue to scam people. so best bet is to report them without any waste of time. They need to be stopped as soon as they are fished out
 
Nite

Nite

Verified member
Scam is everywhere, and the insurance industry is not spared from it too. Insurance scam has existed ever since insurance itself became a commercial enterprise. It can take many forms and may occur in any area of insurance. It is very important that scam activities must be eliminated from the industry. And to fight the growing problem of this insurance scam, reports must be made to the appropriate insurance department.
 
Augusta

Augusta

VIP Contributor
  • Augusta

    Augusta

That's the truth, scam is now in all sectirs and no body is spared now whether young or old. The best bet is to be careful with wherever you are putting your money. All what this scamming is all about is for that to make quick money so they should reported whatever they try to scam people. it can be really annoying with insurance company as you can't be protected afterall.
 
Dasryny

Dasryny

New member
Has anyone tried to complain this way? I just wonder how long it will be before they close them?
 
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