There are reports that insurance brokers and some employees working in major Insurance companies collude to defraud unsuspecting motorists.
This is how it works. The Brokers/Agents collect money meant for insurance premiums from motorists for the relevant cover. The Brokers/Agents collude with wayward employees in the insurance companies and obtain “genuine” insurance cover stickers, put the details of the car owner and ditto, you have a cover! The Police cannot even detect because the cover sticker is original & genuine. But alas, the details of the car owner and his/her car are not entered in the Insurance Companies database and the money is not remitted to the insurance company. It disappears like the Malaysian plane.
It is only when a bad accident happens that the motorist learns the truth. So far, KeIFA is investigating several cases of this scam involving a number of Brokers/Agents and 5 insurance companies. Two of the insurance companies have since suspended some of their employees involved.
If you are a motorist, please call your underwriter/insurance company and find out if your details exist in their database. Skip your broker/agent for now and call your insurer directly. Spread the word and share this update widely.
