I got my car policy renewed 2 months ago when my Reliance car insurance policy no 1301792311004781, was due to expire. The agent one Mr Karan(+919910030090,+919899993915) from agency code 562447 belonging to some Mr khatriya issued a covernote no 110000214932 against a cash payment of Rs 9333/-. When I did not receive my policy documents for 2 months I called the local Reliance General Insurance office and found to my amazement that the covernote had details of a different individual in their records. This is a clear cut case of Insurance fraud. I have filed a police complaint against this individual who continues to use his mobile no and keeps lying constantly. Soon he should be behind bars.

The insurance company receives the premiums from the policy owner and invests them to create a pool of money from which it can pay claims and finance the insurance company's operations. Contrary to popular belief, the majority of the money that insurance companies make comes directly from premiums paid, as money gained through investment of premiums can never, in even the most ideal market conditions, vest enough money per year to pay out claims.