Irda cautions public not to fall prey to fictitious calls

Insurance Regulatory and Development Authority (Irda) has asked the public to remain alert and not to fall prey to frauds and scams perpetrated by miscreants using the name of the authority or insurance companies.
Irda said it was receiving complaints, through email and letters and from the public informing the Authority that they were receiving spurious calls from unidentified persons who claimed to be representative and offered policies of different insurance companies with various benefits.
"Irda hereby urges the public to remain alert and not to fall prey to frauds or scams perpetrated by miscreants who impersonate to be employees/officers of Irda or other insurance companies," it said in a notification today.

It further asked the public to lodge a police complaint upon receiving such calls along with the details of the caller and the telephone number from which the call was received in the local police station.
Irda also informed the public in general that it is a regulatory body to protect the interest of the policyholders so as to promote and ensure orderly growth of the insurance industry.
"Irda does not involve directly or through any representative in sale of any kind of insurance or financial products. Does not invest the premium received by insurance companies. Does not announce any bonus for policyholders or insurers," it clarified.