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Insurance companies play surrogate to middlemen Rs 831.91 Cr looted in the name of flood claims 3/28/2015 11:37:10 PM Srinagar, Mar 28 : While September floods caused massive devastation cross Jammu Kashmir, some people made a fortune through false insurance claims. A probe secretly held by Jammu Kashmir Police has revealed. Although the findings of the probe have not been made public yet, the newsmen have laid hands on portions of the report thus bringing the scam to the surface. The insurance companies in connivance with some officials and middle men have successfully amassed crores through false claims. The probe has identified people from areas which were not hit by floods who claimed hefty amounts for damage that never took place. These persons, the report reads, claimed money from insurance companies which in turn would send their people to ascertain `losses'. Finally the amount would be released only to be distributed among them. A soft drink trader from Nowgam received around 10 lakhs from an insurance company.According to insiders the insurance companies including The National Insurance Co. Ltd, New India Assurance Co. Ltd, United India Insurance Co. Ltd and Oriental India Insurance Co. Ltd had received a total of 9,917 claims worth Rs.980.49 cr till October and claims to the tune of Rs 831.91 cr were settled till January.   Share This News with Your Friends on Social Network     Comment on this Story

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