LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

anonymous11 (stud)     09 June 2013

Life insurance broker fraud

We have subscribed to life insurance  policy of ING Vysya.We paid three premiums of 50k each.But for the 2nd premium we gave the amount to the Agent.Agent is a nearer person to us.He didn't pay the 2nd premium,He used entire amount.Now can we take any legal action against agent.



Learning

 4 Replies

VENKATACHALAM M (Senior Lecturer)     09 June 2013

More importantly, can we make the insurance company liable, as principal, in this contract of agency?

adv. rajeev ( rajoo ) (practicing advocate)     09 June 2013

File a complaint on the agent. Co., is not liable because they are only the agents of the co., not an employee

VENKATACHALAM M (Senior Lecturer)     09 June 2013

What about 'vicarious liability' and 'respondeat superior'?

Sudhir Kumar, Advocate (Advocate)     09 June 2013

sorry.  vicatiour liability is attracted only when the servant/agent is acting within delegated authority.  Generally insuranc ecompanies do not authro9ise agents to collect premium and also inform the insurers on this.  SO chances of company being liable are sparce. 

 

so complaintg subsists against agent only and the offence is cognisable andnon-bailable.

1 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register