Insurance for businesses protects owners and employees.
THE Association of Trinidad and Tobago Insurance Companies (ATTIC) is warning of an increase in the number of reported fraudulent vehicle-insurance certificates.
Insurance should only be obtained from and payments made to companies and/or representatives approved by the Central Bank (CBTT), an ATTIC release advised.
When seeking to buy motor insurance from a prospective representative, i.e. an agent or sales representative, please verify that he/she is registered with the CBTT as an intermediary. You can easily check CBTT’s website for all authorised agencies/sales representatives using the following link:
People should also request proof of registration from the agent or sales representative. It is a requirement that authorised CBTT representatives clearly display the certificate in their office at a location visible to the public and/or produce it on request by a prospective customer.
Contact the insurance company to verify that the person is contracted to sell motor insurance on their behalf.
When paying premiums, the release added, people should consider:
* If paying for the premium by cheque – consider paying to the order of the insurance company.
* Ensure that you receive an official receipt at all times.
* Ensure that you have accurate contact details for the person handling your transactions.
* Ensure that you receive valid insurance policy documents.
Do not assume:
* That a person wearing clothing with an insurance company’s logo means that he/she is an agent/sales representative of that company.
* A document such as a motor certificate with the company’s logo is authentic, as these can be easily reproduced.
* A person with a calling card bearing the company’s name and logo to mean that he/she is an agent or sales representative as these can also be easily created.
If a person buys insurance from an unauthorised person, the insurance certificate will be fraudulent and you would be uninsured.
Therefore, any claim will not be honoured and you may be liable for any damages to properties or injuries incurred, if you are found to be at fault. Additionally, you may be charged by the police for driving without a valid insurance certificate.