Irda warns public against fraudulent calls

New Delhi: Insurance sector regulator (Irda) has asked general public not to fall prey to fictitious calls or fraudulent offers claiming higher policy benefits. The Insurance Regulatory and Development Authority of India (Irda) said that members of public have been receiving calls from unidentified individuals posing as officials of Irda/Integrated Grievance Management System making fictitious and fraudulent offers.

The callers also use names such as Insurance Transaction Department, RBI or any other name of existing government agencies or some non-existing fictitious entities, it said. Irda said neither the regulator or its grievance management cell involve directly or through any representative in sale of any kind of insurance or financial products nor do they invest the premium received by the insurance companies.