Beware of ghost brokers

It’s still a few weeks to Halloween but this is one ghost story you’ll want to hear right now.

Irish drivers have been warned by industry experts that their insurance will be cancelled if they buy policies for cash from “ghost brokers”. It turns out people have been taking out motor insurance policies based on falsified documents before selling them on to motorists looking for cheaper insurance.

Four people have been arrested and more than 600 policies will now be cancelled following an investigation into ghost brokers operating in Dublin.

Ghost brokers often claim to have a commercial relationship with insurance companies and falsely claims they can procure insurance, usually at a discount. They usually advertise through Facebook or by using pop-up shops.

Transactions usually take place in car parks, and for cash.

It is believed that some motorists genuinely think they’re getting a valid policy but many are aware that they are involved in a scam. Victims/clients of ghost brokers are likely to be left with a hefty bill when they’re caught. People are urged to stay away from ghost brokers at all costs and to stick to genuine policies from reliable sources.

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All the best,

The Team at GMIB.ie