Re: Insurance fraud by ICICI?

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Indeed. More from money life, on this topic.

https://www.moneylife.in/article/ldquobanks-should-not-be-selling-third-par=
ty-productsrdquo-rbi-deputy-governor/33057.html
https://www.moneylife.in/article/rbi-reviewing-guidelines-on-mis-selling-by=
-banks-in-wealth-management-services/33540.html

However, things seem to have fallen silent after in the last 5 years.

On Tue, Mar 20, 2018 at 3:12 PM, 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
>>
>


--=20
regards,
Banibrata
http://www.linkedin.com/in/bdutta
http://twitter.com/edgeliving

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<div dir=3D"ltr"><div>Indeed. More from money life, on this topic.<br><br><=
a href=3D"https://www.moneylife.in/article/ldquobanks-should-not-be-selling=
-third-party-productsrdquo-rbi-deputy-governor/33057.html">https://www.mone=
ylife.in/article/ldquobanks-should-not-be-selling-third-party-productsrdquo=
-rbi-deputy-governor/33057.html</a><br><a href=3D"https://www.moneylife.in/=
article/rbi-reviewing-guidelines-on-mis-selling-by-banks-in-wealth-manageme=
nt-services/33540.html">https://www.moneylife.in/article/rbi-reviewing-guid=
elines-on-mis-selling-by-banks-in-wealth-management-services/33540.html</a>=
<br><br></div>However, things seem to have fallen silent after in the last =
5 years.<br></div><div class=3D"gmail_extra"><br><div class=3D"gmail_quote"=
>On Tue, Mar 20, 2018 at 3:12 PM, Kiritkumar Lathia <span dir=3D"ltr">&lt;<=
a href=3D"mailto:[email protected]" target=3D"_blank">[email protected]</=
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 dir=3D"auto">Th=
e &quot;pawn gets his sales commission.=C2=A0<div dir=3D"auto">In EU the ba=
nks and/or insurance companies are made liable and fined.</div><div dir=3D"=
auto">There is no equivalent consumer protection law in India 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 Banibrat=
a Dutta, &lt;<a href=3D"mailto:[email protected]" target=3D"_blank"=
>[email protected]</a>&gt; wrote:<br></div><blockquote class=3D"gma=
il_quote" style=3D"margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-lef=
t:1ex"><div dir=3D"ltr">Very pertinent article and headline. My dad, 75yr o=
ld, was sold (should I say tricked into) a ULIP of 5Lacs, by his &quot;weal=
th manager&quot;. His only wealth being his own house and govt. pension. Th=
ere should be a possibility of criminal proceedings against such &quot;weal=
th managers&quot;. However, we soon realize that the &quot;wealth manager&q=
uot; 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 9:5=
1 AM, Suresh Ramasubramanian <span dir=3D"ltr">&lt;<a href=3D"mailto:suresh=
@hserus.net" rel=3D"noreferrer" target=3D"_blank">[email protected]</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 link=3D"#0563C1" vlin=
k=3D"#954F72" lang=3D"EN-IN"><div class=3D"m_4852684870432782784m_-39484225=
57232195081m_-2897146149229226433WordSection1"><p class=3D"MsoNormal"><span=
 style=3D"font-size:11.0pt" lang=3D"EN-US">The list has seen zero traffic o=
ver 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" la=
ng=3D"EN-US"><u></u>=C2=A0<u></u></span></p><p class=3D"MsoNormal"><span st=
yle=3D"font-size:11.0pt" lang=3D"EN-US">Just came across this interesting a=
rticle.=C2=A0 Worth a look =E2=80=93 if only because a police department ha=
s finally taken note of rampant misselling of insurance (where ICICI is har=
dly the only offender, any and every marketer of life insurance needs his c=
laims carefully examined before buying anything, and even then only buy pur=
e term policies).<u></u><u></u></span></p><p class=3D"MsoNormal"><span styl=
e=3D"font-size:11.0pt" lang=3D"EN-US"><u></u>=C2=A0<u></u></span></p><p cla=
ss=3D"MsoNormal"><span style=3D"font-size:11.0pt" lang=3D"EN-US"><a href=3D=
"https://thewire.in/business/how-indian-insurance-companies-are-defrauding-=
the-bottom-of-the-pyramid" rel=3D"noreferrer" target=3D"_blank">https://the=
wire.in/business/<wbr>how-indian-insurance-<wbr>companies-are-defrauding-th=
e-<wbr>bottom-of-the-pyramid</a><u></u><u></u></span></p></div></div>
<br>______________________________<wbr>_________________<br>
India-gii mailing list<br>
<a href=3D"mailto:India-gii-IAPFreCvJWP2/[email protected]" rel=3D"noreferrer" target=
=3D"_blank">India-gii-IAPFreCvJWP2/[email protected]</a><br>
<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_485=
2684870432782784m_-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>
______________________________<wbr>_________________<br>
India-gii mailing list<br>
<a href=3D"mailto:India-gii-IAPFreCvJWP2/[email protected]" rel=3D"noreferrer" target=
=3D"_blank">India-gii-IAPFreCvJWP2/[email protected]</a><br>
<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>
</blockquote></div>
</div></div></blockquote></div><br><br clear=3D"all"><br>-- <br><div class=
=3D"gmail_signature" data-smartmail=3D"gmail_signature">regards,<br>Banibra=
ta<br><a href=3D"http://www.linkedin.com/in/bdutta" target=3D"_blank">http:=
//www.linkedin.com/in/bdutta</a><br><a href=3D"http://twitter.com/edgelivin=
g" target=3D"_blank">http://twitter.com/edgeliving</a></div>
</div>

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