In recent months, AXA has seen an increase in the number of customers who have purchased policies from unauthorised individuals, or as the insurance industry refers to them, Ghost Brokers.
What is a Ghost Broker and what do they do?
Ghost Brokers are individuals who sell insurance without being authorised to do so.
They often create false documents, such as a No Claims Discount, to support an application for insurance, and provide false information to insurance companies to reduce the price that the customer has to pay.
![Ghost Brokers | Everything you need to know](http://images.ctfassets.net/lzfizdpcfy1y/5lC9bO7QLtbFWlsuS01gct/71d2ce2844770817d0280384a7a3632c/fraud-3-blog-article-image.jpg)
Sounds good? Not really! You may end up uninsured
Remember, if something sounds too good to be true, it almost certainly is!
When the Insurance Company finds out that your information has been deliberately misrepresented or that a false document has been submitted as part of your application for insurance, the policy can be declared void – which means that the insurance policy is treated like it never existed and YOU WILL NOT BE INSURED.
When this happens, customers often find that the Ghost Broker offers no help or assistance, and sometimes cannot be contacted at all, meaning that you realistically won’t get your money back from them.
In addition to this, insurance companies also have an obligation to report information relating to possible frauds to law enforcement, which means that you yourself could be at risk of prosecution.
The bottom line is that Ghost Brokers are NOT AUTHORISED to sell insurance, are NOT REGULATED, and DO NOT MEET THE MINIMUM STANDARD of industry qualifications. Their activity leaves customers exposed to significant financial risk and other serious consequences.
![Ghost Brokers | Everything you need to know](http://images.ctfassets.net/lzfizdpcfy1y/57KeEsipqdmfZRGOnzmtcP/5089c9858df8ef72358d1039c69f8d35/fraud-2-blog-article-image.jpg)
What to look out for
Avoid buying insurance from:
Anyone selling insurance products that communicates solely via services such as WhatsApp, Telegram, TikTok, Snapchat, or Instagram, for example.
Anyone who asks you to provide personal details for an insurance policy through services such as WhatsApp, Telegram, or any other social media messaging service.
Anyone who asks to meet in a public place like a shopping centre, car park, or in the street in order to accept payment for an insurance product.
Anyone who requests payment for an insurance product by way of an electronic transfer to an account in their own name.
When buying insurance from AXA, customers should always make contact either via the AXA website, by phone, in person in one of our branches, or via one of our approved Brokers.
Be aware that some Ghost Brokers also create bogus websites, in order to make themselves look legitimate.
To be certain that a company is authorised to provide the service it is offering, check the online register on the Central Bank of Ireland’s website.
If you are unsure about any aspect of insurance and need some advice, our staff will always be happy to help.
If you are concerned that you have been the victim of Ghost Broking activity, or any other type of Insurance Fraud, please contact us by email at: underwritingfraud@axa.ie
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ROI: 0818 7 365 24
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