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(Querist) 19 September 2009 This query is : Resolved 
Subject: Mis-Use Of IRDA License by Insurance Company To Attain Sales Targets

With regard to above subject, Please guide if what actions can be taken against the insurance company & how the agent may get compensated for fraud done by the company.

Insurance company has logged in a policy in my agent code with fradulent signature of me.

Also the agent commision of same policy is not paid to the agent. I came to know about after receiving mail from IT Department stating TDS receipt from the Insurance Co.

Pl. Guide

Facts Known to me -
Only IRDA licensed agents can sell Insurance.
Agent is required to submit a confidential report stating insured persons financials & giving true information which is used by the Company to Underwrite the Policy Document.
Signature is forged by the Company Officials.

Immideate Help required in this matter.riven
PJANARDHANA REDDY (Expert) 19 September 2009
Bharat Jain (Querist) 19 September 2009
Thanks for early response.

Before going for legal actions, I am here to get guidance & knowledge about the legalities.

What points would support my case.
Is there any law protecting Agent Rights.

B Jainriven
Bhumik Dave (Expert) 19 September 2009
Represent your case in IRDA.riven
Bharat Jain (Querist) 19 September 2009
Pl. put light on rights of an IRDA Insurance agent & points which would support usriven
PJANARDHANA REDDY (Expert) 20 September 2009
IRDA AMND ACT and insurance act other indian contract act,IPC support u, first do complaint at IRDAriven
Raj Kumar Makkad (Expert) 20 September 2009
Mr. Bharat Jain, you engage any local lawyer who shall prepare complaint on your behalf keeping view the provisions of IRDA & Insurance Act wherein all the terms and conditions applicable in your case are clearly mentioned.riven

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