Re: Insurance fraud by ICICI?

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I can say for India - there ain't many reasonable laws written, and even
those that are written seldom work. Be it TRAI or RBI or DGH, they are dumb
stooges.

On 20 March 2018 at 15:12, Kiritkumar Lathia <[email protected]> wrote:

> The "pawn gets his sales commission.
> In EU the banks and/or insurance companies are made liable and fined.
> There is no equivalent consumer protection law in India or USA to my
> knowledge
>
> On Tue, 20 Mar 2018, 09:51 Banibrata Dutta, <[email protected]>
> wrote:
>
>> Very pertinent article and headline. My dad, 75yr old, was sold (should =
I
>> say tricked into) a ULIP of 5Lacs, by his "wealth manager". His only wea=
lth
>> being his own house and govt. pension. There should be a possibility of
>> criminal proceedings against such "wealth managers". However, we soon
>> realize that the "wealth manager" is just a little pawn. The tactics are
>> systematic.
>>
>> On Tue, Mar 20, 2018 at 9:51 AM, Suresh Ramasubramanian <
>> [email protected]> wrote:
>>
>>> The list has seen zero traffic over the past several months / a few
>>> years so .. why not restart it.
>>>
>>>
>>>
>>> Just came across this interesting article.  Worth a look =E2=80=93 if o=
nly
>>> because a police department has finally taken note of rampant missellin=
g of
>>> insurance (where ICICI is hardly the only offender, any and every marke=
ter
>>> of life insurance needs his claims carefully examined before buying
>>> anything, and even then only buy pure term policies).
>>>
>>>
>>>
>>> https://thewire.in/business/how-indian-insurance-
>>> companies-are-defrauding-the-bottom-of-the-pyramid
>>>
>>> _______________________________________________
>>> India-gii mailing list
>>> India-gii-IAPFreCvJWP2/[email protected]
>>> https://lists.india-gii.org/mailman/listinfo/india-gii
>>>
>>>
>>
>>
>> --
>> regards,
>> Banibrata
>> http://www.linkedin.com/in/bdutta
>> http://twitter.com/edgeliving
>> _______________________________________________
>> India-gii mailing list
>> India-gii-IAPFreCvJWP2/[email protected]
>> https://lists.india-gii.org/mailman/listinfo/india-gii
>>
>
> _______________________________________________
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>
>

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<div dir=3D"ltr">I can say for India - there ain&#39;t many reasonable laws=
 written, and even those that are written seldom work. Be it TRAI or RBI or=
 DGH, they are dumb stooges.=C2=A0</div><div class=3D"gmail_extra"><br><div=
 class=3D"gmail_quote">On 20 March 2018 at 15:12, Kiritkumar Lathia <span d=
ir=3D"ltr">&lt;<a href=3D"mailto:[email protected]" target=3D"_blank">kpla=
[email protected]</a>&gt;</span> wrote:<br><blockquote class=3D"gmail_quote" s=
tyle=3D"margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div=
 dir=3D"auto">The &quot;pawn gets his sales commission.=C2=A0<div dir=3D"au=
to">In EU the banks and/or insurance companies are made liable and fined.</=
div><div dir=3D"auto">There is no equivalent consumer protection law in Ind=
ia or USA to my knowledge=C2=A0</div></div><div class=3D"HOEnZb"><div class=
=3D"h5"><br><div class=3D"gmail_quote"><div dir=3D"ltr">On Tue, 20 Mar 2018=
, 09:51 Banibrata Dutta, &lt;<a href=3D"mailto:[email protected]" t=
arget=3D"_blank">[email protected]</a>&gt; wrote:<br></div><blockqu=
ote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1px #ccc s=
olid;padding-left:1ex"><div dir=3D"ltr">Very pertinent article and headline=
. My dad, 75yr old, was sold (should I say tricked into) a ULIP of 5Lacs, b=
y his &quot;wealth manager&quot;. His only wealth being his own house and g=
ovt. pension. There should be a possibility of criminal proceedings against=
 such &quot;wealth managers&quot;. However, we soon realize that the &quot;=
wealth manager&quot; is just a little pawn. The tactics are systematic.<br>=
</div><div class=3D"gmail_extra"><br><div class=3D"gmail_quote">On Tue, Mar=
 20, 2018 at 9:51 AM, Suresh Ramasubramanian <span dir=3D"ltr">&lt;<a href=
=3D"mailto:[email protected]" rel=3D"noreferrer" target=3D"_blank">suresh@h=
serus.net</a>&gt;</span> wrote:<br><blockquote class=3D"gmail_quote" style=
=3D"margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div lin=
k=3D"#0563C1" vlink=3D"#954F72" lang=3D"EN-IN"><div class=3D"m_633464544918=
7398750m_-3948422557232195081m_-2897146149229226433WordSection1"><p class=
=3D"MsoNormal"><span style=3D"font-size:11.0pt" lang=3D"EN-US">The list has=
 seen zero traffic over the past several months / a few years so .. why not=
 restart it.<u></u><u></u></span></p><p class=3D"MsoNormal"><span style=3D"=
font-size:11.0pt" lang=3D"EN-US"><u></u>=C2=A0<u></u></span></p><p class=3D=
"MsoNormal"><span style=3D"font-size:11.0pt" lang=3D"EN-US">Just came acros=
s this interesting article.=C2=A0 Worth a look =E2=80=93 if only because a =
police department has finally taken note of rampant misselling of insurance=
 (where ICICI is hardly the only offender, any and every marketer of life i=
nsurance needs his claims carefully examined before buying anything, and ev=
en then only buy pure term policies).<u></u><u></u></span></p><p class=3D"M=
soNormal"><span style=3D"font-size:11.0pt" lang=3D"EN-US"><u></u>=C2=A0<u><=
/u></span></p><p class=3D"MsoNormal"><span style=3D"font-size:11.0pt" lang=
=3D"EN-US"><a href=3D"https://thewire.in/business/how-indian-insurance-comp=
anies-are-defrauding-the-bottom-of-the-pyramid" rel=3D"noreferrer" target=
=3D"_blank">https://thewire.in/business/<wbr>how-indian-insurance-<wbr>comp=
anies-are-defrauding-the-<wbr>bottom-of-the-pyramid</a><u></u><u></u></span=
></p></div></div>
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<a href=3D"https://lists.india-gii.org/mailman/listinfo/india-gii" rel=3D"n=
oreferrer noreferrer" target=3D"_blank">https://lists.india-gii.org/<wbr>ma=
ilman/listinfo/india-gii</a><br>
<br></blockquote></div><br><br clear=3D"all"><br>-- <br><div class=3D"m_633=
4645449187398750m_-3948422557232195081gmail_signature" data-smartmail=3D"gm=
ail_signature">regards,<br>Banibrata<br><a href=3D"http://www.linkedin.com/=
in/bdutta" rel=3D"noreferrer" target=3D"_blank">http://www.linkedin.com/in/=
<wbr>bdutta</a><br><a href=3D"http://twitter.com/edgeliving" rel=3D"norefer=
rer" target=3D"_blank">http://twitter.com/edgeliving</a></div>
</div>
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=3D"_blank">India-gii-IAPFreCvJWP2/[email protected]</a><br>
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oreferrer noreferrer" target=3D"_blank">https://lists.india-gii.org/<wbr>ma=
ilman/listinfo/india-gii</a><br>
</blockquote></div>
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<br></blockquote></div><br></div>

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