Premium collections by public sector-owned insurers increased 12 percent ma...
Acting on a tip off, a team of Central Bureau of Investigation (CBI) officials, at the same time, conducted searches at the 13 premises of the State run United India Insurance Company Limited.
These 13 premises included 6 official premises of the company as well as 6 premises of the agents.
State owned United India Insurance Company sought a probe by CBI in connection with suspected bogus mediclaim policies scam defrauding the company worth Rs. 12 lakhs.
Commenting on the raid, CBI officers said that Officials of the United India Insurance Company in collusion with some of the agents purchased policy under dummy names and purportedly claimed the same thereby defrauding the company worth Rs. 12 lakhs. CBI also recovered large number of fake policies during the raid.
United India Insurance Company Limited was incorporated on 18th February 1938 as a General Insurance Company and was nationalized in 1972. It has more than 200 offices in Tier II and III towns and villages by way of micro offices. Its headquarter is situated in Chennai.