The Association of Trinidad and Tobago Insurance Companies (ATTIC) is advising the general public of an increase in the number of reported incidents of fraudulent motor vehicle insurance certificates.
As a result, ATTIC is warning that insurance should only be obtained from and payments made to companies and/or representatives approved by the Central Bank of Trinidad and Tobago (CBTT).
“When seeking to purchase motor insurance from a prospective representative i.e., an agent or sales representative, please verify that he/she is registered with CBTT as an intermediary,” ATTIC stated.
One can easily check the CBTT’s website for all authorised agencies/sales representatives using the following link: https://www.central-bank.org.tt/core-functions/supervision/insurance-sector.
According to the ATTIC, one can also request proof of registration from the agent or sales representative.
It is a mandatory requirement that authorised CBTT representatives clearly display the certificate within their offices at a location that is visible to the public and/or produce it upon request by a prospective consumer.
It said people should contact the insurance company to verify that the person is contracted to sell motor insurance on their behalf and if paying for the premium by cheque, consider paying to the order of the insurance company.
It added that:
Policy holders must ensure they receive an official receipt at all times.
Ensure that you have accurate contact details of 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.
Noting that a document such as a motor certificate can be easily reproduced, it added, “If you purchase 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.”