I was cheated by insurance broker, how much compensation can I demand from Investment Company? Let me refresh this in detail.
I have a purchased a policy, after that I have requested for policy cancellation, they took written letter from me for the cancellation, at that time I requested for acknowledgment for cancellation request, but they said acknowledgment is not required for policy cancellation, I met one person there, he told that he is a business manager, I donít know his name but he working for the investment company, then I left the branch without taking acknowledgement.
After two days, I got the call (fake call, later I know this, this call was made by that investment company) and I discussed regarding policy cancellation, and finally she agreed for cancellation, and I was communicated for my policy will be cancelled.
After that I did not get any information from insurance company regarding policy cancelation, then I have given mail to that insurance company, after that I got a call from insurance company; they said there is no policy cancellation request from me. I really wondered that cancellation request is not updated with their records.
Then I visited the branch, they said they did not receive the cancellation request, after that I came know that my policy document and request letter are hold by Investment company employee, and he did not submit the documents to the insurance company. I thought he is a insurance company employee, but he did not. In that insurance company premises none of the persons are not wearing Identification cards to identify, weather he is a insurance employee or not, generally people might think, if the person is in that premises that person is insurance company employee, I have given the documents in insurance company premises (conference hall).
The insurance company is favor for me and they are ready to give any kind of documents to support this. Because this is happened on their premises.
1. What kind of action can I take against that investment company? As they do not any authorization to take documents in insurance company premises and they were make fake service calls to me.
2. How much compensation/damages can I expect from that investment company?